Montan Mining Announces Approval Of Share Consolidation And New Board Member
TSX VENTURE: FMN
Vancouver, BC / TheNewswire / July 7, 2017 - Montan Mining Corp. (TSXv: MNY | FSE: S5GM | SSE: MNYC) ("Montan" or the "Company") announces that at the Annual General and Special Meeting of the shareholders of the Company held on June 28, 2017, the Company's shareholders approved the previously announced consolidation of the issued and outstanding common shares of the Company (the "Common Shares") on the basis of one (1) post-consolidation Common Share for every three (3) pre-consolidation Common Shares (the "Consolidation").
Any fractional Common Shares resulting from the Consolidation will be rounded up to the next whole Common Share if such fractional Common Share is equal to or greater than one-half of a Common Share and rounded down to the next whole Common Share if such fractional Common Share is less than one-half of a Common Share. It is expected that the Consolidation will reduce the number of outstanding Common Shares from approximately 84,316,346 Common Shares to approximately 28,105,449 post-consolidation Common Shares on a non-diluted basis. No fractional Common Shares will be issued under the Consolidation.
Furthermore, Montan is pleased to announce that Fatih Akarsu is joining the Board of Directors of the Company. Mr. Akarsu is currently head of Corporate Development of the Company. He is also a financial professional in private and public sectors since 2010. Mr. Akarsu was previously head of Corporate relations with Pasinex Resources Ltd. in 2013 and is currently the President and Chief Executive Officer of Cantur Capital.
About Montan Mining Corp.
Montan Mining Corp. is an emerging gold producer focusing on monetizing mining assets in Peru. The company is backed by an experienced management team with diverse technical, market, and finance expertise and is supported by committed and sophisticated investors focused on building long term value for shareholders.
For more information, please visit the corporate website at http://www.montanmining.ca