{"id":2179,"date":"2025-04-30T18:21:44","date_gmt":"2025-04-30T22:21:44","guid":{"rendered":"https:\/\/monteromining.com\/?p=2179"},"modified":"2025-04-30T18:21:44","modified_gmt":"2025-04-30T22:21:44","slug":"montero-announces-effective-date-of-share-consolidation","status":"publish","type":"post","link":"https:\/\/monteromining.com\/staging\/5850\/montero-announces-effective-date-of-share-consolidation\/","title":{"rendered":"Montero announces effective date of share consolidation"},"content":{"rendered":"<p><strong>Toronto, Ontario \u2013 April 30, 2025<\/strong> \u2013 Montero Mining and Exploration Ltd. (TSX-V: MON) (OTCPK: MXTRF) (\u201c<strong>Montero<\/strong>\u201d or the \u201c<strong>Company<\/strong>\u201d) announces that, further to its press release dated April 16, 2025, the TSX Venture Exchange (\u201c<strong>TSXV<\/strong>\u201d) has approved the Company\u2019s proposed consolidation (the \u201c<strong>Consolidation<\/strong>\u201d) of its common shares (\u201c<strong>Common Shares<\/strong>\u201d) on the basis of six (6) pre-Consolidation Common Shares for one (1) post-Consolidation Common Shares. The Common Shares will commence trading on the TSXV on a post-Consolidation basis effective at market opening on May 5, 2025. As of the date hereof, there are 50,122,975 Common Shares issued and outstanding. On a post-Consolidation basis, the Company shall have 8,353,833 Common Shares issued and outstanding. Pursuant to the <em>Business Corporations<\/em> Act (British Columbia) and the articles of the Company, shareholder approval of the Consolidation is not required, and the Consolidation was approved by way of resolution passed by the board of directors of the Company.<\/p>\n<p>&nbsp;<\/p>\n<p>The Company&#8217;s name and trading symbol will remain unchanged following the Consolidation. The new CUSIP number will be 612648402 and the new ISIN number will be CA6126484022 for the post-Consolidation common shares. No fractional Common Shares will be issued as a result of the Consolidation. Any fractional interest in Common Shares that is less than 0.5 of a Common Share resulting from the Consolidation will be rounded down to the nearest whole Common Share, and any fractional interest in Common Shares that is equal to or greater than 0.5 of a Common Share will be rounded up to the nearest whole Common Share. The share consolidation will affect all shareholders uniformly and will not alter any shareholders\u2019 relative interest in the Company\u2019s equity securities, except for any adjustments for fractional shares. The exercise or conversion price of, and the number of Common Shares issuable under, any convertible securities of the Company will be proportionately adjusted upon the completion of the Consolidation.<\/p>\n<p>&nbsp;<\/p>\n<p>Registered shareholders will receive a letter of transmittal from the Company\u2019s transfer agent, Odyssey Trust Company, providing instructions on how to exchange their share certificates representing pre-Consolidation Common Shares for new share certificates or Direct Registration Advice (DRS) representing post-Consolidation common shares to which they are entitled as a result of the Consolidation. No action is required by non-registered shareholders (shareholders who hold their Common Shares through an intermediary) to affect the Consolidation. The letter of transmittal will also be available on the Company\u2019s SEDAR+ profile at <a href=\"http:\/\/www.sedarplus.ca\">www.sedarplus.ca<\/a>.<\/p>\n<p>&nbsp;<\/p>\n<p><strong>About Montero<\/strong><\/p>\n<p>Montero has successfully concluded a US$27,000,000 settlement with Tanzania, bringing an end to the dispute over the expropriation of the Wigu Hill rare earth element project. In addition to this settlement, the Company holds the Avispa copper-molybdenum project in northern Chile and is to advance its exploration. Montero\u2019s board of directors and management team have a strong track record in discovering and developing precious metal and copper projects. The Company is listed on the TSX Venture Exchange under the trading symbol MON and currently has 50,122,975 shares outstanding.<\/p>\n<p>&nbsp;<\/p>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>Toronto, Ontario \u2013 April 30, 2025 \u2013 Montero Mining and Exploration Ltd. (TSX-V: MON) (OTCPK: MXTRF) (\u201cMontero\u201d or the \u201cCompany\u201d) announces that, further to its press release dated April 16, 2025, the TSX Venture Exchange (\u201cTSXV\u201d) has approved the Company\u2019s proposed consolidation (the \u201cConsolidation\u201d) of its common shares (\u201cCommon Shares\u201d) on the basis of six &#8230; <a title=\"Montero announces effective date of share consolidation\" class=\"read-more\" href=\"https:\/\/monteromining.com\/staging\/5850\/montero-announces-effective-date-of-share-consolidation\/\" aria-label=\"Read more about Montero announces effective date of share consolidation\">Read more<\/a><!-- AddThis Advanced Settings generic via filter on get_the_excerpt --><!-- AddThis Share Buttons generic via filter on get_the_excerpt --><\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"nf_dc_page":"","_jetpack_memberships_contains_paid_content":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[1,8],"tags":[],"class_list":["post-2179","post","type-post","status-publish","format-standard","hentry","category-news","category-posts"],"acf":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/monteromining.com\/staging\/5850\/wp-json\/wp\/v2\/posts\/2179","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/monteromining.com\/staging\/5850\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/monteromining.com\/staging\/5850\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/monteromining.com\/staging\/5850\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/monteromining.com\/staging\/5850\/wp-json\/wp\/v2\/comments?post=2179"}],"version-history":[{"count":0,"href":"https:\/\/monteromining.com\/staging\/5850\/wp-json\/wp\/v2\/posts\/2179\/revisions"}],"wp:attachment":[{"href":"https:\/\/monteromining.com\/staging\/5850\/wp-json\/wp\/v2\/media?parent=2179"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/monteromining.com\/staging\/5850\/wp-json\/wp\/v2\/categories?post=2179"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/monteromining.com\/staging\/5850\/wp-json\/wp\/v2\/tags?post=2179"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}