Mako Mining Announces Intention to Complete Share Consolidation
LEGAL*56924814.3
February 23, 2023
TSX-V: MKO; OTCQX: MAKOF
Mako Mining Announces Intention to Complete Share Consolidation
Mako Mining Corp. (TSX-V: MKO; OTCQX: MAKOF) (“Mako” or the “Company”) announces that, further
to the approval by its shareholders at the annual and special meeting of the Company held on July 26,
2022, it intends to complete the consolidation of its common shares on a ten (10) to one (1) basis (the
“Consolidation”). The Company currently has 657,433,984 common shares issued and outstanding.
Following the Consolidation, the Company will have approximately 65,743,398 common shares issued and
outstanding after rounding for fractional shares.
Akiba Leisman, CEO of Mako states that “this Consolidation is intended to increase the number of
institutions who can invest in the Company, inc luding exchange traded funds that require higher notional
share prices before they can invest, which we believe will increase the liquidity and valuation of Mako’s
stock over time.”
Upon completion of the Consolidation, a letter of transmittal will be sent by mail to all registered
shareholders who hold physical share certificates advising that the Consolidation has taken effect. The
letter of transmittal will contain instructions on how such registered shareholders can exchange their share
certificates evidencing their pre-consolidated common shares for new share certificates representing the
number of post-consolidated common shares to which they are entitled. No action is required by those
registered shareholders who hold their common shares in DRS form or in electronic book-base form, nor
by non-registered shareholders (shareholders who hold their shares through an intermediary) to effect the
Consolidation.
The Consolidation is subject to t he approval of the TSX Venture Exchange (the “TSXV”). The common
shares are expected to begin trading on the TSXV on a post-Consolidation basis, after the TSXV issues
its final bulletin advising of the effective date of the Consolidation. The common shares will continue to
trade on the TSXV under the same trading symbol “MKO”.
The expected benefits of the Consolidation include greater investor interest and, in particular, for certain
institutional investors and investment funds that may be prevented under their investing guidelines from
otherwise investing in the common shares at current share prices, improved trading liquidity and reduced
price volatility.
On behalf of the Board,
Akiba Leisman
Chief Executive Officer
LEGAL*56924814.3
About Mako
Mako Mining Corp. is a publicly listed gold mining, development and exploration company. The Company
operates the high-grade San Albino gold mine in Nueva Segovia, Nicaragua, which ranks as one of the
highest-grade open pit gold mines globally. Mako’s primary objective is to operate San Albino profitably
and fund exploration of prospective targets on its district-scale land package.
For further information: Mako Mining Corp., Akiba Leisman, Chief Executive Officer, Telephone: 203-862-
7059, E-mail: [email protected] or vi sit our website at www.makominingcorp.com and
SEDAR www.sedar.com.
Forward-Looking Information
Statements contained herein that are not historical fact are considered “forward-looking information” within the
meaning of applicable securities laws. Forward-looking information is based on management’s current expectations,
beliefs and assumptions, and in cludes, without limitation: the Company’s expectation that it will obtain final TSXV
approval and complete the Consolidation on the timeline expe ct; that the Consolidation will result in the expected
benefits set out in this press release; and that the Com pany will meet its object of operating San Albino profitably
while continuing to fund exploration of prospective targets. Such forward-looking information is subject to a variety of
risks and uncertainties which could cause actual events or results to differ materially from those reflected in the
forward-looking information, including, without limitati on, that TSXV approval is delayed or not obtained and the
Consolidation is not completed on the timeline expected or at all; that the Consolidation does not have the positive
benefits stated herein, as well as other risks and uncertain ties disclosed in the Company’s public filings at
www.sedar.com. Forward-looking information contained herein is based on ma nagement’s best judgment as of the
date hereof, based on information currently available and is included for the purposes of providing investors with the
Company’s plans and expectations in regards to its prop osed Consolidation and may not be appropriate for other
purposes.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.