MacDonald Mines Announces Effective Date of Share Consolidation

TORONTO, Dec. 05, 2022 (GLOBE NEWSWIRE) -- MacDonald Mines Exploration Ltd. (TSXV:BMK) (“MacDonald Mines” or the “Company”) is pleased to announce that it has received TSX Venture Exchange (“TSXV”) approval for the consolidation of the Class A common shares (the “Common Shares”) of the Corporation (the “Consolidation”). As previously announced in its press releases dated August 10, 2022 and October 12, 2022, shareholders of the Corporation approved a special resolution authorizing the Board of Directors to consolidate the Common Shares of the Corporation. The Board of Directors has confirmed the Corporation’s intention to proceed with a one (1) new for every ten (10) old consolidation (10:1) of its Common Shares (the “Conversion Ratio”) to be effective December 7, 2022. There will be no name change in conjunction with the Consolidation. The Corporation’s Common Shares will continue to trade on the TSXV under the symbol “BMK”. The new ISIN number for the Consolidated Shares is CA5543247079 and the new CUSIP number is 554324707. There are currently 258,963,516 Common Shares issued and outstanding. Following the completion of the Consolidation, the number of Common Shares of the Corporation issued and outstanding will be approximately 25,896,352.

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