CSE – MICH
VANCOUVER, Nov. 29, 2019 /CNW/ - Mich Resources Ltd. (formerly Michelin Mining Corp.) (CSE – MICH) (the "Company") announces that, further to its November 21, 2019 news release, it has completed the name change from "Michelin Mining Corp." to "Mich Resources Ltd.".
The Company's trading symbol remains as "MICH" on the Canadian Securities Exchange (the "CSE") and the common shares will commence trading on the CSE under the new name effective at the opening of trading on December 4, 2019. The new CUSIP for the Company's common shares is 59407U108 and ISIN is CA59407U1084.
The Company further announces that its common shares will be subdivided on the basis of two (2) new shares for each one (1) old share (the "Stock Split") applicable to shareholders of record ("Registered Shareholders") as of the close of business on December 5, 2019 (the "Record Date").
The Company's common shares will begin trading on a split-adjusted basis effective at the opening of trading on December 4, 2019. After giving effect to the Stock Split, the Company will have approximately 33,293,002 common shares outstanding. Outstanding stock options and share purchase warrants will also be adjusted by the Stock Split ratio and the respective exercise prices of outstanding stock options and share purchase warrants will be adjusted accordingly. In accordance with the Company's Articles, shareholder approval was not required for the Stock Split.
The Stock Split is being conducted on a call-in basis, therefore a letter of transmittal will be sent by mail on or around December 5, 2019 to Registered Shareholders by the Company's transfer agent with instructions for exchanging their pre-split shares. Shareholders who hold their common shares through a broker or other intermediary and do not have common shares registered in their name will not need to complete a letter of transmittal as their broker or intermediary will make arrangements on their behalf. A copy of the letter of transmittal may also be obtained under the Company's SEDAR profile at www.sedar.com.
About Mich Resources Ltd.
Mich Resources Ltd. is a junior natural resource company engaged in the acquisition and exploration of mineral properties of merit and currently focused on exploring its Rude Creek gold property in the Yukon.
On behalf of Mich Resources Ltd.
"Mark T. Brown"
Chief Executive Officer
Neither the Canadian Securities Exchange nor its Regulation Service Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release. This press release may contain certain forward-looking information. All statements included herein, other than statements of historical fact, forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward looking information can be found in the company's disclosure documents on the SEDAR website at www.sedar.com. The Company does not undertake to update any forward-looking information except in accordance with applicable securities laws.
SOURCE Michelin Mining Corp.
For further information: Szascha Lim, CFO & Corporate Secretary, Tel: 604.609.6110