Mako Mining Announces Intention to Complete Share Consolidation

About this update from Mako Mining Corp.

[{"type":"text","content":"Mako Mining Announces Intention to Complete Share ConsolidationVANCOUVER, BC / ACCESSWIRE / February 23, 2023 / Mako Mining Corp. (TSXV:MKO)(OTCQX:MAKOF) (\"Mako\" or the \"Company\") announces that, further to the approval by its shareholders at the annual and special meeting of the Company held on July 26, 2022, it intends to complete the consolidation of its common shares on a ten (10) to one (1) basis (the \"Consolidation\"). The Company currently has 657,433,984 common shares issued and outstanding. Following the Consolidation, the Company will have approximately 65,743,398 common shares issued and outstanding after rounding for fractional shares.Akiba Leisman, CEO of Mako states that \"this Consolidation is intended to increase the number of institutions who can invest in the Company, including exchange traded funds that require higher notional share prices before they can invest, which we believe will increase the liquidity and valuation of Mako's stock over time.\"Upon completion of the Consolidation, a letter of transmittal will be sent by mail to all registered shareholders who hold physical share certificates advising that the Consolidation has taken effect. The letter of transmittal will contain instructions on how such registered shareholders can exchange their share certificates evidencing their pre-consolidated common shares for new share certificates representing the number of post-consolidated common shares to which they are entitled. No action is required by those registered shareholders who hold their common shares in DRS form or in electronic book-base form, nor by non-registered shareholders (shareholders who hold their shares through an intermediary) to effect the Consolidation.The Consolidation is subject to the approval of the TSX Venture Exchange (the \"TSXV\"). The common shares are expected to begin trading on the TSXV on a post-Consolidation basis, after the TSXV issues its final bulletin advising of the effective date of the Consolidation. The common shares will continue to trade on the TSXV under the same trading symbol \"MKO\".The expected benefits of the Consolidation include greater investor interest and, in particular, for certain institutional investors and investment funds that may be prevented under their investing guidelines from otherwise investing in the common shares at current share pric...

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