Toronto, Ontario--(Newsfile Corp. - December 8, 2020) - Meryllion Resources Corporation (CSE: MYR) ("Meryllion" or the "Corporation") is pleased to announce that its Board of Directors has authorized the implementation of the consolidation (the "Consolidation") of the Corporation's issued and outstanding common shares on the basis of one (1) post-Consolidation common share for every ten (10) pre-Consolidation common shares, the whole effective as of December 11, 2020 (the "Effective Date").
The Consolidation was approved by the shareholders of the Corporation at the annual and special meeting of shareholders held on October 27, 2020.
The Corporation currently has 91,148,420 common shares issued and outstanding. Following the Consolidation, there will be approximately 9,114,842 common shares issued and outstanding. However, no fractional shares will be issued. All fractions of common shares post-Consolidation will be rounded down to the next lowest whole number if the first decimal place is less than five and rounded up to the next highest whole number if the first decimal place is five or greater.
The Corporation's common shares are expected to begin trading on the Canadian Securities Exchange on a post-Consolidation basis when markets open on December 10, 2020.
The new ISIN and CUSIP numbers for the post-Consolidation common shares are CA59047T2065 and 59047T206, respectively. The Corporation's name and stock symbol will remain unchanged.
Registered shareholders of record as at the Effective Date will receive a letter of transmittal from the Corporation's transfer agent providing instructions for the exchange of their common shares as soon as practicable following the Effective Date.
Non-registered shareholders holding common shares through an intermediary (a securities broker, dealer, bank or financial institution) should be aware that the intermediary may have different procedures for processing the Consolidation than those that will be put in place by the Corporation for registered shareholders. If shareholders hold their common shares through intermediaries and have questions in this regard, they are encouraged to contact their intermediaries.
For further information please contact:
Mr. Jeremy Edelman
Director and Chief Executive Officer
Meryllion Resources Corp.
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.
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