Toronto, Ontario--(Newsfile Corp. - August 27, 2020) - Meryllion Resources Corporation (CSE: MYR), ("Meryllion" or the "Corporation") is pleased to announce its intention to seek the necessary approvals to consolidate its common shares.
The Corporation has called an annual general and special meeting of shareholders (the "Meeting") for Tuesday, October 27, 2020 at 10:00 a.m. (Eastern Time). At the Meeting, Meryllion's shareholders will be asked to consider and adopt a special resolution approving a share consolidation on the basis of one new common share (each, a "New Share") for every ten existing common shares (each, an "Existing Share") of the Corporation (the "Consolidation").
For example, the current number of shares that the Corporation has issued and outstanding will be reduced from 91,148,420 Existing Shares as of the date hereof down to approximately 9,114,842 New Shares based on the 10:1 consolidation ratio.
Meryllion's board of directors is of the opinion that the Consolidation will provide the Corporation with greater flexibility as it could lead to increased interest by a wider audience of potential investors and would better position the Corporation to obtain financing and to pursue future opportunities.
The procedure for implementing the consolidation and the full text of the special resolution approving the Consolidation will be available in the Corporation's management information circular in respect of the Meeting. The Consolidation remains subject to shareholder approval and acceptance by the Canadian Securities Exchange.
For further information please contact:
Mr. Jeremy Edelman
Director and Chief Executive Officer
Meryllion Resources Corp.
T: +61 455 553 363
Information set forth in this news release may involve forward-looking statements under applicable securities laws. The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this document are made as of the date of this document and the Corporation disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation. Although Management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. This news release does not constitute an offer to sell or solicitation of an offer to buy any of the securities described herein and accordingly undue reliance should not be put on such.
Neither CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/62684