MINFOCUS ANNOUNCES 5 FOR 1 CONSOLIDATION
August 3, 2021 – Minfocus Exploration Corp. (TSX.V: MFX) (“Minfocus” or the “Company”) announces that it will consolidate its common shares at a ratio of five pre-consolidation shares to one post- consolidation share. Fractional shares of 0.5 or greater will be rounded up to the nearest whole number of common shares, and fractional shares of fewer than 0.5 will be rounded down to the nearest whole number of shares. The share consolidation is subject to the approval of the TSX Venture Exchange.
The Company currently has 24,910,796 common shares issued and outstanding. Upon completion of the consolidation, the company will have approximately 4,982,159 common shares issued and outstanding. Some slight variance is expected due to fractional rounding. The exercise price and number of common shares issuable upon the exercise of the Company’s outstanding stock options and warrants will be proportionally adjusted upon completion of the consolidation in accordance with the terms thereof.
Holders of shares of the Company who hold uncertificated shares (shares held in book entry form and not represented by a physical share certificate), either as registered holders or beneficial owners, will have their existing book entry account(s) electronically adjusted by the Company’s transfer agent or, in the case of beneficial shareholders, by their brokerage firms, banks, trusts or other nominees that hold in street name for their benefit. Such holders generally do not need to take any additional actions to exchange their pre-consolidation shares for post-consolidation shares.
Registered shareholders holding share certificates will be mailed a letter of transmittal advising of the consolidation and instructing them to surrender the share certificates representing pre-consolidation shares for replacement certificates or a direct registration advice representing their post-consolidation shares. Until surrendered for exchange, each share certificate formerly representing pre-consolidation shares will be deemed to represent the number of whole post-consolidation shares to which the holder is entitled as a result of the consolidation.
The Company does not intend to change its name or seek a new stock trading symbol in connection with the Share Consolidation.
About Minfocus Exploration Corp.
Minfocus is a Canadian mineral exploration company currently advancing a portfolio of North American precious and base metals projects, including precious metals in Nevada, USA and three Mississippi Valley- type zinc projects in B.C. and Newfoundland and Labrador, Canada. Minfocus is led by an unparalleled technical team with a track record of successful exploration worldwide.
FOR FURTHER INFORMATION PLEASE CONTACT:
Alicia Milne, President and Director
Telephone: 1 (800) 482-7560 E-mail: email@example.com
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.