Vancouver, British Columbia--(Newsfile Corp. - August 22, 2022) - M3 Metals Corp. (TSXV: MT) ("M3 Metals" or the "Company") announces that the board of directors is proposing to consolidate the company's issued and outstanding common shares on the basis of 1 new common share for every 10 old common shares outstanding or on the basis of such lesser consolidation ratio as may be approved by the board of directors and accepted by the TSX Venture Exchange. The consolidation will increase the company's flexibility and competitiveness in the market place and to make the company's securities more attractive to a wider audience of potential investors, thereby resulting in a more efficient market for the common shares.
The proposed 1-new-share-for-10-old-share consolidation would result in the number of issued and outstanding common shares of the company being reduced from 32,747,273 common shares without par value to 3,274,727 common shares without par value. The effective date of the share consolidation will occur immediately after exchange approval.
M3 Metals Corp.
CEO and Director
"Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."
Except for historical information contained herein, this news release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially. The Company will not update these forward-looking statements to reflect events or circumstances after the date hereof. More detailed information about potential factors that could affect financial results is included in the documents filed from time to time with the Canadian securities regulatory authorities by the Company.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/134493