McChip Announces Corporate Update and Plans for Shareholder Distributions

Core Viewpoint - McChip Resources Inc has decided to distribute cash and assets to shareholders and subsequently explore strategic alternatives to maximize shareholder value [1] Group 1: Financial Position and Distributions - The company has liquidated most of its assets, holding approximately $11,200,000 in cash and certain shares in other public companies [2] - The company plans to distribute all or a portion of its cash and securities holdings to shareholders after settling outstanding liabilities and estimated professional fees of approximately $700,000 [2] - A special meeting of shareholders is scheduled for October 1, 2025, to vote on a special resolution to distribute up to $5,200,000 through a reduction in stated capital [4] Group 2: Shareholder Meeting and Approval Process - Shareholders are expected to receive approximately C$0.91066 per Common Share as part of the Return of Capital, subject to the Board's discretion to adjust the amount [4] - Approval of the Reduction in Stated Capital requires at least two-thirds of the votes cast at the special meeting [5] - The Board unanimously recommends that shareholders vote in favor of the Reduction in Stated Capital, which is subject to necessary shareholder and regulatory approvals [5][6]