Megawatt Announces Proposed Consolidation of Shares
Megawatt Announces Proposed Consolidation of Shares
Vancouver, British Columbia‐‐(May 3, 2023) ‐ Megawatt Lithium and Battery Metals Corp. (CSE:MEGA)
(FSE: WR20) (OTCQB: WALRF) (the "Company" or "Megawatt") announces, further to its news release
of April 18, 2023 and effective May 9, 2023, that the Company will consolidate the common shares in
the capital of the Company (the “ Shares”) on the basis of one (1) post -consolidation Share for every
ten (10) pre-consolidation Shares (the “Consolidation”). The Company’s name and stock symbol will
remain unchanged following the Consolidation. The new CUSIP number will be 58518J200 and the
new ISIN number will be CA58518J2002 for post Consolidation Shares.
The Company currently has 87,587,318 Shares outstanding and post -consolidation there will be
approximately 8,758,732 Shares outstanding, subject to rounding. No fractional shares will be issued
as a result of the C onsolidation of Shares. Any fractional shares resulting from the Consolidation of
Shares will be rounded up or down to the nearest whole Share. The Company’s outstanding incentive
stock options and warrants will be adjusted on the same basis (1:10 ) to reflect the Consolidation in
accordance with their respective terms with proportionate adjustments to be made to the exercise
prices.
The Company’s post Consolidation Shares are expected to begin trading on the Canadian Securities
Exchange (“CSE”) on or about May 9, 2023.
Letters of transmittal with respect to the Consolidation will be mailed to all registered shareholders
of the Company. All registered shareholders will be required to send their respective certificates
representing the pre Consolidation Shares along with a properly executed letter of transmittal to the
Company’s transfer agent, National Securities Administrators Ltd. ( the “Transfer Agent ”), in
accordance with the instructions provided in the letter of transmittal. Additional copies of the letter
of transmittal c an be obtained through the Transfer Agent at 604-559-8880 or by e -mail to
[email protected]. All shareholders who submit a duly completed letter of transmittal along
with their respective pre -Consolidation Share certificate(s) to the Transfer Agent, will receive a post
Consolidation Share certificate or Direct Registration Advice representing the post Consolidation
Shares.
About MegaWatt Lithium and Battery Metals Corp.
MegaWatt is a British Columbia based company involved in the acquisition and exploration of mineral
properties in Canada. The Company holds a 100% undivided interest, subject to a 1.5% NSR on all base,
rare earth elements and precious metals, in the Cobalt Hill Property, consisting of eight mineral claims
covering an area of approximately 1,727.43 hectares located in the Trail Creek Mining Division in the
Province of British Columbia, Canada.
Additionally, the Company has acquired a n 80% interest in a comp any that indirectly holds a 100%
interest (subject to a 2% NSR) in two prospective silver -zinc projects in Australia, being the Tyr Silver
Project and the Century South Silver-Zinc Project (see press release dated August 13, 2020), an indirect
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100% interest (subject to a 1% NSR) in and to certain mining tenements in Northern Territory and New
South Wales, Australia prospective for nickel-cobalt-scandium and rare earth elements.
The Company holds a 100% interest (subject to a 2% NSR) in and to the Route 38 1 Lithium Property,
comprised of 40 mineral claims located in James Bay Territory, north of Matagami in the Province of
Quebec, covering 2,126 hectares (see press release dated February 3, 2021) and a 100% interest in
229 additional mineral exploration claims prospective for lithium, also in the James Bay area of Quebec
covering an area of 12,116 hectares or 121 square kms.
Investors can learn more about the Company and team at https://megawattmetals.com.
For further information: David Thornley-Hall, Chief Executive Officer, [email protected]
Related Links
https://megawattmetals.com
The CSE does not accept responsibility for the adequacy or accuracy of this release.
This press release includes "forward-looking information" that is subject to a number of assumptions,
risks and uncertainties, many of which are beyond the control of the Company. Forward -looking
statements may include but are not limited to, statements relating t o the trading of the Company's
common shares on the Exchange and the Company's use of proceeds and are subject to all of the risks
and uncertainties normally incident to such events. Investors are cautioned that any such statements
are not guarantees of future events and that actual events or developments may differ materially from
those projected in the forward - looking statements. Such forward -looking statements represent
management's best judgment based on information currently available. No securities r egulatory
authority has either approved or disapproved of the contents of this news release.
SOURCE MegaWatt Lithium and Battery Metals Corp.
FOR FURTHER INFORMATION PLEASE CONTACT:
David Thornley-Hall Chief Executive Officer