2021-07-23 09:37 ET - News Release
Mr. David Lees report
MONTEREY MINERALS ANNOUNCES CORPORATE UPDATE
Monterey Minerals Inc. has released a corporate update pertaining to the issued and outstanding shares of the company.
The share consolidation previously announced in the press release dated July 16, 2021, will now be effective on July 27, 2021 (previously July 23, 2021), Monterey will consolidate its outstanding common shares, on the basis of one postconsolidation common share for every eighty preconsolidation common shares. In accordance with the company's articles, shareholder approval will not be required for the proposed consolidation. The company's board of directors has approved the reverse split which will result in approximately 1,914,995 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.