Millstream Mines Ltd. Corporate Update on Share Consolidation
30.09.2014 | Accesswire
TORONTO, ONTARIO / ACCESSWIRE / September 30, 2014 / Millstream Mines Ltd. (MLM TSX-V & NJD Frankfurt) announces that the company has made a submission to the TSX Venture Exchange in order to consolidate the shares of the company on the basis of one (1) new share for every five (5) shares outstanding. This will reduce the total shares of the corporation outstanding to approximately 15,748,340. The Share Consolidation will not affect any shareholder's percentage ownership interest in the Company, except to the extent that the Share Consolidation would otherwise result in any shareholder owning a fractional share. No fractional shares will be issued and the shares that each shareholder is entitled to receive will be rounded down to the nearest whole Common Share and the holder thereof shall have no rights associated with the fractional share.As part of the aforementioned submission process, the company is required to post a Letter of Transmittal with respect to the Consolidation on SEDAR. The letter of transmittal describes the process by which registered shareholders may obtain new certificates representing consolidated Common Shares and all registered shareholders of the Company will be required to send their certificates representing pre-Consolidation Common Shares with a properly executed letter of transmittal to Trans-Canada Transfer Inc., in accordance with the instructions provided in the letter of transmittal. 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.
About Millstream Mines Ltd.:
Millstream Mines Ltd. is a Canadian-based mineral exploration company whose principle objective is to enhance and develop known mineral properties to production potential. The Company has projects in the Province of Ontario, Canada and in the State of Montana, USA. The Potter Mine Property found in Ontario is outlined above. The Tamarack Gold Property, a former high grade gold producer in the Tobacco Root Mountains of south western Montana, is in an advanced stage of underground exploration and development operating under the Small Mines Exclusion Act of the State of Montana. Exploration properties in the company’s portfolio also include the Uncle Sam gold project property in Montana and the Airport property (Sudbury basin precious metals project) in Ontario.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. Millstream seeks safe harbour with regard to forward looking statements.
For further information contact:
Millstream Mines Ltd.
Mr. Ernest Harrison, EM, Chairman and CEO
Mr. Marty Martinello, B.A., Executive V.P.
Phone: 705-474-7282
Mr. Robert Chase, CFA, President and CFO
Phone:647-800-8796
Email: info@millstreammines.com
Web: http://www.millstreamminesmines.com