Edmonton, Alberta – September 16, 2022 – Mineworx Technologies Ltd., (the “Corporation” or “Mineworx“) (TSXV: MWX) (OTCQB: MWXRF) (FSE: YRS WKN: A2DSW3) announced that, further to its July 8, 2022 news release, effective on or about Tuesday, September 20, 2022, the Corporation will complete the consolidation (the “Consolidation”) of its Common Shares on the basis of 2 pre-Consolidation Common Shares for 1 post-Consolidation Common Share, subject to regulatory approval, including approval of the TSX Venture Exchange (“TSX Venture”). Where the exchange results in a fractional share, the number of Common Shares will be rounded up to the next greater whole number of Common Shares if the fractional entitlement is equal to or greater than 0.5 and shall, without any additional compensation, be rounded down to the next lesser whole number of Common Shares if the fractional entitlement is less than 0.5 and, in calculating such fractional interests, all Common Shares registered in the name of and held by such Shareholder shall be aggregated. Shareholder approval of the Consolidation was obtained at the annual general and special shareholders meeting held on July 27, 2022. A new CUSIP number of 603465303 replaces the old CUSIP number of 603465204, to distinguish between the pre- and post- consolidated Common Shares. The Corporation’s name and trading symbol will remain unchanged.
The Consolidation is being conducted on a “push-out” basis. Shareholders of the Corporation, with or without a physical share certificate, do not need to take any action with respect to the Consolidation. DRS statements for the post-Consolidation Common Shares will be mailed on or about September 20, 2022. Existing share certificates will be cancelled.
Commencing at the opening of trading on or about Tuesday, September 20, 2022, the Common Shares of the Corporation will trade on a post-Consolidation basis on the TSX Venture. Following the completion of the Consolidation, there are expected to be 347,178,581 post-Consolidation Common Shares outstanding.
