TORONTO, July 11, 2022 (GLOBE NEWSWIRE) -- MacDonald Mines Exploration Ltd. (TSXV:BMK) (“MacDonald Mines” or the “Company”) is pleased to announce that it has mailed the meeting materials in connection with the annual and special meeting of shareholders of the Corporation to be held on August 9, 2022 (the “Meeting”). The Meeting materials are available under the Corporation’s profile on www.SEDAR.com and at https://docs.tsxtrust.com/2052. At the Meeting, among other things, shareholders will be asked to consider a resolution approving a consolidation (the “Consolidation Proposal”) of the Corporation’s outstanding Class A common shares (the “Common Shares”) on the basis of up to one (new) for ten (old) Common Shares (up to 1:10). Approval of the Consolidation Proposal will provide the Board of Directors (the “Board”) with the discretion to determine the actual consolidation basis within this range. Please note that if the Consolidation Proposal is approved, no more than one consolidation will take place – there will be no successive consolidations without the further approval of the shareholders. Furthermore, approval of the Consolidation Proposal does not mean that a Common Share consolidation will occur, as the Board will have the discretion not to proceed with any Common Share consolidation if it is deemed to be in the best interests of the Corporation not to do so.
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