(TheNewswire)
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.
On behalf of the Board of Montan.
Ian Graham
Email: igraham@montanmining.ca
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 or contact:
Investor Contact:
Luis F. Zapata
Executive Chairman
Email: lzapata@montanmining.ca
Tel: +1-604-358-1382
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 NEWS RELEASE.
Forward-Looking Statements: Certain statements in this press release are forward-looking statements within the meaning of applicable securities laws. Forward-looking statements in this press release include that we will close our acquisition an operation ready gold mine and gold processing plant in the southern Peruvian mining district of Caraveli under a Share Exchange Agreement with Chazel Capital Inc. for the purchase of its 100% owned Peruvian subsidiary Cerro Dorado S.A.C.. Such forward-looking statements and information are subject to risks, uncertainties and other factors which may cause our actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statement. Specific risks included that we may not be able to complete any necessary future financing, or to finance our intended acquisition. We may not be able to become profitable even if we are producing and milling to capacity, profitability depends on revenues and expenses which are not completely controllable; we may not be able to secure mineral feed from other miners; and we may not be able to restart production because of technical or expense issues.
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