1 - 4 reverse split MGI NR
Magnum Goldcorp arranges 1:4 share rollback
2018-06-05 11:54 ET - News Release
Mr. Douglas Mason reports
MAGNUM GOLDCORP ANNOUNCES PROPOSED SHARE CONSOLIDATION
Subject to required TSX Venture Exchange approval, Magnum Goldcorp Inc. intends to proceed with a proposed consolidation of its issued common share capital on the basis of four old common shares for one new common share.
Management believes that the proposed consolidation is in the best interest of the company and will allow the company greater possibilities with respect to future financings. Presently, the company has 85,182,986 common shares issued and outstanding, and, if the proposed consolidation is affected, there will be 21,295,747 common shares issued and outstanding. In connection with the proposed consolidation, the name of the company will not change and the company's trading symbol will remain as MGI.