Venture Exchange. The intended consolidation will b e on a basis of one post-consolidation common
April 29, 2016 Trading Symbols: MAN: TSXV
Vancouver, BC – Monster Mining Corp. (the "Company") advises that the Company will be filing for and seeking approval of a consolidation of the Company's issued and outstanding share capital with the TSX Venture Exchange. The intended consolidation will be on a basis of one post-consolidation common share for every ten pre-consolidation common shares. This consolidation will reduce the issued and outstanding shares of the Company from 31,817,519 to approximately 3,181,751 shares, assuming no other change in the issued capital. The Company does not have any outstanding options or warrants.
Fractional common shares will not be issued, and no cash will be paid in lieu of fractional postconsolidation common shares. The number of post-consolidation common shares to be received by a shareholder will be rounded down to the nearest whole common share.
The Board of Directors believes that the proposed share consolidation will better position the Company to raise the funds it requires to finance continuing business activities and to advance its mineral projects.
The Company's articles of incorporation authorize the board of directors to approve certain changes to the Company's capital structure, including the consolidation. As such, shareholder approval is not required.
The consolidation is subject to approval by the TSX Venture Exchange. The Company does not intend to change its name or its current trading symbol in connection with the proposed share consolidation.
The effective date of the consolidation will be disclosed in a subsequent news release.
About Monster Mining
Monster Mining owns the Keno Lightening Project located in the historical Keno Hill Silver District in the Yukon. Between 1921 and 1988, the Keno Hill Silver District was a world-class silver producer, with more than 217 million ounces of silver produced at average grades of 40.5 ounces per ton silver, 5.6% lead and 3.1% zinc (Yukon Government’s Minfile database). The Company also holds the McKay Hill Project located adjacent to ATAC Resources’ Rackla Gold Project.
ON BEHALF OF THE BOARD
Signed “Stephen Pearce”
Stephen Pearce Interim President & CEO
FOR FURTHER INFORMATION PLEASE CONTACT:
Email: [email protected] Website: www.monstermining.com
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.