Mineral Mountain Announces Effective Date of Name Change and Consolidation and Appointment of New CFO
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Vancouver, British Columbia--(Newsfile Corp. - November 29, 2023) - Mineral Mountain Resources Ltd. (TSXV: MMV) (OTCQB: MNRLF) (FSE: M8M) ("Mineral Mountain" or the "Company") is pleased to announce that it has received approval from the TSX Venture Exchange to change the Company's name to "Badlands Resources Inc." (the "Name Change") and to consolidate the Company's outstanding common shares on the basis of one new common share for every ten common shares (the "Consolidation").
The Name Change and Consolidation will take effect at the start of trading on November 30, 2023, and the Company will trade under the symbol "BLDS" and under the new CUSIP/ISIN numbers 056600109/CA0566001099. As a result of the Consolidation, the 113,072,648 common shares issued and outstanding prior to the Consolidation will be reduced to approximately 11,383,925 common shares. Each shareholder's percentage ownership in the Company and proportionate voting power will remain unchanged after the Consolidation, except for minor changes and adjustments resulting from the treatment of any fractional common shares.
In connection with the Consolidation, the Company expects to send letters of transmittal to registered holders of its common shares for use in transmitting their existing share certificates ("Existing Certificates") to the Company's registrar and transfer agent, TSX Trust Company, in exchange for new certificates ("New Certificates") representing the number of post-Consolidation common shares to which each shareholder is entitled.
No delivery of a New Certificate to a shareholder will be made until the shareholder has surrendered its Existing Certificates. Until surrendered, each Existing Certificate shall be deemed for all purposes to represent the number of post-Consolidation common shares to which the holder is entitled.
The Company is also pleased to announce that P. Joseph Meagher has been appointed Chief Financial Officer of the Company effective as of September 12, 2023. Mr. Meagher holds a Bachelor of Commerce from the University of British Columbia, became a Chartered Professional Accountant (CPA, CA) in 2008, and obtained the Chartered Director (C.Dir.) designation from The Directors College (a joint venture between McMaster University and The Conference Board of Canada) in 2017. Mr. Meagher has extensive experience working with publicly listed companies.
Tom Wilson has resigned as Chief Financial Officer. The Company thanks him for his service and wishes him well in his future endeavors.
About Mineral Mountain
Mineral Mountain, through its wholly owned subsidiary Mineral Mountain Resources (SD) Inc., began exploring in the Black Hills of South Dakota, USA in July 2012. The Company recognized that the Homestake Gold Trend was not well explored using modern technology and the potential of discovering another similar Homestake-style gold deposit with scale was above average. Since 2012, the Company has expended over
On Behalf of the Board of Directors
MINERAL MOUNTAIN RESOURCES LTD.
R. Dale Ginn, President and CEO
For further information, please contact:
R. Dale Ginn
604-678-5308 | dale@rsdcapital.com
Or visit our website: www.mineralmtn.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-looking information
This release includes certain statements that may be deemed to be "forward-looking information" under Canadian securities laws. All statements in this release, other than statements of historical facts, that address events or developments that the Company expects to occur, constitute forward-looking information. Forward-looking information consists of statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "could" or "should" occur and includes information relating to the anticipated effective date of the Name Change and Consolidation. Forward-looking information is based on management's reasonable assumptions, estimates, expectations, analyses and opinions, which are based on management's experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances, but which may prove to be incorrect. Such factors, among others, include the ability to obtain required final approvals from the TSX Venture Exchange. The Company believes that the expectations reflected in the forward-looking information are reasonable, but no assurance can be given that these expectations will prove to be correct. Please see the public filings of the Company at www.sedarplus.ca for further information.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/189046
FAQ
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