News
Monterey Minerals to roll back shares 1:80
2021-07-16 17:09 ET - News Release
Mr. David Lees reports
MONTEREY MINERALS ANNOUNCES CORPORATE UPDATE
Monterey Minerals Inc. has provided a corporate update pertaining to the issued and outstanding shares of the company.
On April 14, 2021, the company reported that its board of directors decided to cease work at the Alicia project in the Philippines and sold the property back to the original property vendor. Since that time, the company has been evaluating its options.
Effective July 23, 2021, Monterey will consolidate its outstanding common shares, on the basis of one postconsolidation common share for every 80 preconsolidation common shares. In accordance with the provisions of the British Columbia Securities Act, the Monterey board of directors has approved the reverse split which will result in approximately 1,914,994 postconsolidation common shares remaining issued and outstanding.
About Monterey Minerals Inc.
The company owns the Cobalt Mountain property in the Omineca mining division of British Columbia near the town of Smithers. The company's National Instrument 43-101 technical report, available on SEDAR, notes historic sampling on the property that returned mineralized showings of gold, silver, copper, zinc and cobalt. The company has optioned its 451 square kilometres of prospective Pilbara basin tenements on the eastern flank of the Pilbara basin in Western Australia to an Australian exploration company.