Core Points - Montero Mining and Exploration Ltd. has received approval from the TSX Venture Exchange for a share consolidation at a ratio of six pre-Consolidation common shares for one post-Consolidation common share, effective May 5, 2025 [1][2] - Following the consolidation, the total number of common shares will decrease from 50,122,975 to 8,353,833 [1][2] - The consolidation will not require shareholder approval and was passed by the board of directors [1][2] Share Consolidation Details - The company's name and trading symbol will remain unchanged, with a new CUSIP number of 612648402 and ISIN number of CA6126484022 for the post-Consolidation shares [2] - No fractional common shares will be issued; fractions less than 0.5 will be rounded down, and those equal to or greater than 0.5 will be rounded up [2] - The exercise or conversion price of any convertible securities will be proportionately adjusted upon completion of the consolidation [2] Shareholder Instructions - Registered shareholders will receive a letter of transmittal from Odyssey Trust Company with instructions for exchanging their share certificates [3] - Non-registered shareholders do not need to take any action for the consolidation [3] - The letter of transmittal will also be available on the company's SEDAR+ profile [3] Company Background - Montero has settled a US$27 million dispute with Tanzania regarding the expropriation of the Wigu Hill rare earth element project [4] - The company also holds the Avispa copper-molybdenum project in northern Chile and plans to advance its exploration [4] - Montero's management team has a strong track record in discovering and developing precious metal and copper projects [4]
Montero Announces Effective Date of Share Consolidation
Globenewswireยท2025-04-30 22:15