Toronto, Ontario – (Newsfile Corp. – August 24, 2021) – Moneta Porcupine Mines Inc. (TSX: ME) (OTCQX: MEAUF) (XETRA: MOP) (“Moneta” or the “Company”) is pleased to announce that it has changed its name to Moneta Gold Inc. In conjunction with this name change, the Company has completed the previously announced consolidation of its issued and outstanding common shares to a ratio of six common shares prior to the Combination for an after ordinary consolidation share (the “Consolidation“).
Moneta Or inc.
The Company’s rebranding and the name change to Moneta Gold reflect a strong focus on the expansion and development of its Tower Gold project, one of the largest undeveloped gold projects in North America. The name change to Moneta Gold is effective immediately and the Company’s website will be changed to www.monetagold.com.
Gary O’Connor, CEO of the company, commented: “Our new name reflects our goal to establish Moneta Gold as one of Canada’s premier gold companies that delivers value to our shareholders and continued benefits to all. stakeholders. Moneta is one of the oldest publicly traded companies. companies listed on the Toronto Stock Exchange. As such, the company wishes to retain the Moneta name and focus on the development of new underground and surface gold resources, new and enlarged, in this prolific gold camp. We look forward to providing further drill results and updated mineral resource estimates in the coming months.
Consolidation of shares
As Moneta continues to grow and demonstrates its potential for expanding mineral resources and the value of its deposits, it was evident that the Company would benefit from a common stock consolidation to attract larger institutional investors and qualify for be listed on larger stock exchanges. The combination reduced the number of issued and outstanding common shares from 559,221,609 to 93,203,602. No fractional common shares were issued and no cash consideration was paid in connection with the combination. If, as a result of the Consolidation, a holder of Common Shares was otherwise entitled to a fraction of Common Share, that fraction was rounded down to the nearest whole number and each holder of Common Shares who would otherwise have been entitled to receive a fraction of common share the share has received no other interest in the Company in respect of its fraction of common share. As usual, to reflect the consolidation, all outstanding warrants and stock options will be adjusted to increase their exercise price by a factor of six and to reduce the number of common shares issued upon of the exercise by dividing by six.
The Company expects the common shares to begin trading post-merger on the Toronto Stock Exchange upon the opening of trading on or around August 26, 2021.
Shareholders of the Company who hold ordinary shares without certificate (i.e. ordinary shares held in book-entry form and not represented by a physical ordinary share certificate), as registered holders or beneficial owners, will have their existing book-entry account (s) electronically adjusted by the Company’s transfer agent, Computershare or, in the case of beneficial shareholders, by their brokerage firms, banks , trusts or other nominees who hold the street name for their benefit. These holders generally do not need to take any additional steps to exchange their pre-Combination Common Shares for post-Combination Common Shares. If you hold your Common Shares with such a bank, broker or other nominee, and if you have any questions in this regard, we encourage you to contact your nominee.
On or about August 24, 2021, registered shareholders holding common share certificates will be mailed a letter of transmittal notifying them of the consolidation and directing them to deliver the common share certificates representing the pre-consolidation common shares to replacement certificates or a direct registration notice representing their post-Combination common shares. Until surrendered for exchange, each certificate of common shares previously representing common shares prior to the consolidation will be deemed to represent the number of whole common shares subsequent to the consolidation to which the holder is entitled by reason. regrouping.
Shareholders can contact Computershare at 1-800-564-6253 for more information and to answer your questions.
You can also send an email to Computershare at: https://www.computershare.com/ca/en
Moneta is a Toronto Stock Exchange listed Canadian gold exploration company focused on the development of gold resources in the Timmins gold camp in Ontario. Moneta is focused on the development of its flagship gold project, the multi-million ounce Tower Gold project created by the combination of the adjacent Golden Highway and Garrison deposits.
Moneta is well-funded and has a 100% interest in all of its gold resources in Ontario. Moneta trades on the major TSX (TSX: ME) and OTC (OTCQX: MEAUF) stock exchanges. Moneta is focused on creating shareholder value and long-term benefits for all stakeholders.
FOR MORE INFORMATION, PLEASE CONTACT:
Gary V. O’Connor, CEO
Linda Armstrong, Investor Relations
This press release includes certain forward-looking information and statements, collectively “forward-looking statements” within the meaning of applicable Canadian securities laws. Forward-looking statements are frequently identified by words such as “may”, “will”, “plan”, “expect”, “anticipate”, “estimate”, “intend” and similar words referring to to future events and results. Forward-looking statements include, without limitation, information regarding the future performance of the Company, its operations and its financial performance and conditions such as the Company’s drilling program, schedule and results thereof; other measures that could be taken to mitigate the spread of COVID-19; the impact of COVID-19 related disruptions in relation to the Company’s business operations, including on its employees, suppliers, facilities and other stakeholders; uncertainties and risks that have arisen and may arise in relation to travel, and other impacts on financial and social markets from COVID-19 and responses to COVID-19. and the Company’s ability to finance and achieve its intended goals and objectives.
Forward-looking statements are based on the current beliefs and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuation in commodity prices, competitive risks and availability. financing, as described in more detail in our recent securities deposits available on www.sedar.com. Actual events or results may differ materially from those projected in forward-looking statements and we caution against relying on undue reliance on them. We assume no obligation to revise or update these forward-looking statements.