OUCH 1 for 20 MX Gold Corp.'s board of directors has approved a consolidation of common shares of the company on the basis of one postconsolidated share for 20 preconsolidated shares.
The consolidation was approved by shareholders at the annual general and special meeting of shareholders held on April 20, 2020, and is subject to the approval of the TSX Venture Exchange. No fractional shares will be issued in connection with the consolidation with any such fractional shares being rounded to the nearest whole number. Currently, a total of 285,447,252 shares are issued and outstanding. Accordingly, upon the consolidation becoming effective, a total of approximately 14,272,362 shares will be issued and outstanding. There is no maximum of authorized shares.
Computershare Investor Services Inc. will mail letters of transmittal to the shareholders providing instructions on exchanging preconsolidation share certificates for postconsolidation share certificates. Shareholders are encouraged to send their share certificates, together with their letter of transmittal, to Computershare in accordance with the instructions in the letter of transmittal.