Toronto, Canada (January 17, 2017) - Mammoth Resources Corp. (TSX-V: MTH), ("Mammoth" or the "Company") is pleased to announce that the TSX Venture Exchange has approved a consolidation of its common shares (the "Common Shares") on a 4 for 1 basis. The consolidation was approved by the Company's shareholders at the annual general and special meeting held on December 14, 2016 and as previously announced in a press release dated December 19, 2016. The consolidation will take effect on Wednesday, January 18, 2017. Assuming no other change in the issued capital of the Company, it is expected that upon completion of this consolidation, Mammoth will have approximately 16,133,792 Common Shares issued and outstanding, reduced from 64,535,168 Common Shares which are currently issued and outstanding.
At the opening of trading on Wednesday, January 18, 2017, the CUSIP number of the Company will change to 561607300, however the Company's name and trading symbol will remain the same.
The Company's options and warrants will also be adjusted on the same basis (4 for 1) as the Common Shares, with proportionate adjustments being made to exercise prices.
No fractional Common Shares will be issued, and no cash will be paid in lieu of fractional, post-consolidation Common Shares, options nor warrants. The number of post-consolidation Common Shares to be received by a shareholder will be rounded down to the nearest whole Common Share (less than one-half of a share will be cancelled and more than one-half of a share will be changed to one whole share).
A full description of the consolidation is contained in the Company's management information circular dated November 7, 2016, which has been filed under the Company's profile on Sedar at: www.Sedar.com dated November 8, 2016.
About Mammoth Resources:
Mammoth Resources (TSX-V: MTH) is a mineral exploration company focused on acquiring and defining precious metal resources in Mexico and other attractive mining friendly jurisdictions in the Americas. The Company has an option to acquire 100% in the Tenoriba Property located in the Sierra Madre Precious Metal Belt in southwestern Chihuahua State, Mexico. The company continues to seek other option agreements in the Americas on other properties it deems to host above average potential for economic concentrations of precious metals mineralization.
To find out more about Mammoth Resources and to sign up to receive future press releases, please visit the company's website at www.mammothresources.ca.
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.
Forward Looking Information: This news release may contain or refer to forward-looking information. All information other than statements of historical fact that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future are forward-looking statements; examples include the listing of its shares on a stock exchange and establishing mineral resources. These forward-looking statements are subject to a variety of risks and uncertainties beyond the Company's ability to control or predict that may cause actual events or results to differ materially from those discussed in such forward-looking statements. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, undue reliance should not be placed on these forward-looking statements due to the inherent uncertainty therein.