Vancouver, British Columbia--(Newsfile Corp. - September 14, 2022) - M3 Metals Corp. (TSXV: MT) (OTCQB: MLGCF) (FSE: X0VP) ("M3 Metals" or the "Company") announces that Effective September 16, 2022, M3 Metals will implement the previously announced share consolidation on the basis of one postconsolidation common share for ten preconsolidation common shares. The share consolidation was approved by a director's resolution dated August 22, 2022 and the company has received approval from the TSX Venture Exchange.
Following the share consolidation, the common shares are scheduled to begin trading on a postconsolidation basis at market open on September 16, 2022. The new Cusip number will be 55379R206, and the new ISIN number will be CA55379R2063. Following the share consolidation, the company will have approximately 3,274,727 common shares issued and outstanding prior to rounding for fractional shares.
No fractional shares shall be issued in connection with the share consolidation. Any fractional share resulting from the share consolidation will be rounded down to the nearest whole number, and any such fractional interest will be cancelled without consideration.
To find out more about M3 Metals Corp., please contact investor relations at 604-669-2279 or email
M3 Metals Corp.
"Kosta Tsoutsis"
Director
604-669-2279
"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." Except for historical information contained herein, this news release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially. The Company will not update these forward-looking statements to reflect events or circumstances after the date hereof. More detailed information about potential factors that could affect financial results is included in the documents filed from time to time with the Canadian securities regulatory authorities by the Company.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/137133
Vancouver, British Columbia--(Newsfile Corp. - August 22, 2022) - M3 Metals Corp. (TSXV: MT) ("M3 Metals" or the "Company") announces that the board of directors is proposing to consolidate the company's issued and outstanding common shares on the basis of 1 new common share for every 10 old common shares outstanding or on the basis of such lesser consolidation ratio as may be approved by the board of directors and accepted by the TSX Venture Exchange. The consolidation will increase the company's flexibility and competitiveness in the market place and to make the company's securities more attractive to a wider audience of potential investors, thereby resulting in a more efficient market for the common shares.
The proposed 1-new-share-for-10-old-share consolidation would result in the number of issued and outstanding common shares of the company being reduced from 32,747,273 common shares without par value to 3,274,727 common shares without par value. The effective date of the share consolidation will occur immediately after exchange approval.
To find out more about M3 Metals Corp., please contact investor relations at 604-669-2279 or email
M3 Metals Corp.
"Kosta Tsoutsis"
CEO and Director
604-669-2279
"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."
Except for historical information contained herein, this news release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially. The Company will not update these forward-looking statements to reflect events or circumstances after the date hereof. More detailed information about potential factors that could affect financial results is included in the documents filed from time to time with the Canadian securities regulatory authorities by the Company.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/134493
Vancouver, British Columbia--(Newsfile Corp. - May 4, 2022) - M3 Metals Corp. (TSXV: MT) (FSE: X0VP) ("M3 Metals" or the "Company") is pleased to announce that it has entered into a Tenement Sale Agreement (the "Agreement") with Labrador Iron Pty Ltd. (the "Purchaser"), a private Australian corporation, pursuant to which the Company will sell its Block 103 Iron Ore project located in the Labrador Trough and covers an area of 7,275 hectares 30 kilometres northwest of Schefferville, Quebec.
Pursuant to the Agreement, the Company will sell the Block 103 project for the following consideration:
- the payment in cash of AUS$500,000 on closing;
- on or prior to the 12-month anniversary of closing, the payment in cash of AUS$1,000,000. In the event that the Purchaser does not pay the AUS$1,000,000 on or prior to the 12-month anniversary of closing, the Purchaser must issue to the Company, for no consideration, that number of common shares of the Purchaser that is equal to 70% of the fully diluted issued and outstanding share capital of the Purchaser.
The Purchaser must also incur at least AUS$250,000 in eligible exploration expenses on the Block 103 property to keep the property in good standing to December 31, 2022.
In addition, if control of the Purchaser is acquired, by way of merger, amalgamation, share purchase or any other corporate transaction or arrangement, by an entity listed on Australian Stock Exchange (the "ASX") or any other stock exchange (a "Listco") or the property or a substantial part of the property is acquired by the Listco on or prior to that date which is 12 months from the closing date, the Purchaser must procure Listco to issue to the Company:
- that number of fully paid common shares in the capital of the Listco that is equal to AUS$500,000, divided by the 10-day VWAP of the Listco's common shares as traded on ASX or such other stock exchange prior to the closing date, to be issued within three business days of completion of the transaction with Listco; and
- that number of fully paid common shares in the capital of the Listco that is equal to Aus$500,000, divided by the 10-day VWAP of the Listco's common shares as traded on ASX or such other stock exchange prior to the closing date, to be issued upon the earlier of either:
a. 12 months from the date of completion of the transaction with Listco; or
b. upon definition of a JORC inferred resource at the Block 103 project of not less than 5,000,000,000 tonnes containing iron ore at a grade not less than 28% within 12 months of the execution of the Agreement.
The Agreement is subject to the acceptance of the TSX Venture Exchange, the consents of all applicable third parties and the approval of the Company's shareholders, if required.
ABOUT M3 METALS CORP.
M3 Metals Corp. is a Canadian listed Company, focused on creating shareholder value through discoveries and strategic development of mineral properties in North America. For additional information please visit M3 Metals website at www.m3metalscorp.com. You may also email
M3 METALS CORP.
"Adrian Smith"
Adrian Smith, President
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
This news release may contain certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When or if used in this news release, the words "anticipate", "believe", "estimate", "expect", "target, "plan", "forecast", "may", "schedule" and similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to future prices of commodities, accuracy of mineral or resource exploration activity, reserves or resources, regulatory or government requirements or approvals, the reliability of third party information, continued access to mineral properties or infrastructure, currency risks including the exchange rate of US$ for CDN$, changes in exploration costs and government royalties or taxes in Canada, the United States or other jurisdictions and other factors or information. Such statements represent the Company's current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affections such statements and information other than as required by applicable laws, rules and regulations.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/122835
Vancouver, British Columbia--(Newsfile Corp. - April 21, 2022) - M3 Metals Corp. (TSXV: MT) (FSE: X0VP) ("M3 Metals" or the "Company") is pleased to announce it has entered into an agreement to acquire 100% of G-South property (the "Property"), located in the Central Cariboo Region of South Central British Columbia.
The Property covers an area of 929.68 Hectares of within the prolific Quesnel terrane, located approximately 30 kilometers north of Quesnel, British Columbia, Canada. The Property is considered prospective for gold and has seen historical exploration beginning in the 1960's with the largest percentage of work completed in the mid to late 1980's. Historical drill intercepts on the Property include 38.13 grams per tonne gold over 0.9 metres (drill hole P-87-29, ARIS 17309) and 6.87 grams per tonne gold over 4.5 metres at the bottom of the one of the deepest holes ending at 94.5 metres (drill hole P-87-41, ARIS 17309). Additional historical drilling and trenching on the Property also encountered highly anomalous gold values and as such the Company plans to begin a detailed compilation and modeling program to better define the areas which have not been adequately followed and have only been tested with shallow (<100 meters) drilling.
The regional geology consists of Upper Triassic Takla Group mafic to intermediate flows, pyroclastic volcanics and argillaceous sedimentary rocks. These are intruded by coeval plutonic rocks of the Naver Intrusive Suite. Locally the Property is underlain by augite porphyry, basaltic breccias and argillites which have been intruded by several rhyolite dikes. Sulphide mineralization occurs disseminated in the country rocks and in stockworks and breccia infillings with quartz, calcite, epidote, and chlorite. There are two main types of mineralization historically identified; disseminated and fracture-controlled pyrite, pyrrhotite and rare chalcopyrite in volcanics or along contacts with rhyolite dikes and; massive sulphide mineralization within gouge zones up to 1.9 meters wide consisting of pyrite, arsenopyrite and sphalerite and occasionally chalcopyrite and galena.
Under the terms of the Agreement, the Vendor is to receive a total of Cdn$20,000 and 2,000,000 common shares of the Company (the "Company Shares") as consideration for the purchase of 100% interest in the G-South property. In addition, the Company will pay a 2% Net Smelter Return royalty (the "NSR") to the Vendor on commencement of commercial production. The Company will have the right, at any time prior to the commencement of commercial production, to purchase 50% of the NSR for Cdn$1,000,000.
The closing of the Agreement and the transactions contemplated in it are subject to the approval of the Company's filings with the TSX Venture Exchange.
Disclosure
The Qualified Person ("QP") for the Company has not verified the historical sample analytical data disclosed within this release. While the Company has obtained all historic records including analytical data from the previous owners of the Property and from various government databases, the Company has not independently verified the results of the historic sampling.
Adrian Smith, P.Geo., is a QP as defined by National Instrument 43-101 for the above-mentioned project. The QP is a member in good standing of the Engineers and Geoscientists of British Columbia (EGBC) and is a registered Professional Geoscientist (P.Geo.). Mr. Smith has reviewed and approved the technical information disclosed above.
ABOUT M3 METALS CORP.
M3 Metals Corp. is a Canadian listed Company, focused on creating shareholder value through discoveries and strategic development of mineral properties in North America. For additional information please visit M3 Metals website at www.m3metalscorp.com. You may also email
M3 METALS CORP.
"Adrian Smith"
Adrian Smith, President
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.
This news release may contain certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When or if used in this news release, the words "anticipate", "believe", "estimate", "expect", "target, "plan", "forecast", "may", "schedule" and similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to future prices of commodities, accuracy of mineral or resource exploration activity, reserves or resources, regulatory or government requirements or approvals, the reliability of third party information, continued access to mineral properties or infrastructure, currency risks including the exchange rate of US$ for CDN$, changes in exploration costs and government royalties or taxes in Canada, the United States or other jurisdictions and other factors or information. Such statements represent the Company's current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affections such statements and information other than as required by applicable laws, rules and regulations.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/121244