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Margaret Lake Diamonds Receives MCTO Revocation Order From BCSC
(TheNewswire) VANCOUVER, BC- TheNewswire - Margaret Lake Diamonds Inc. ("MLD" or the "Compa...
About this update from Vault Strategic Mining Corp.
[{"type":"text","content":"Margaret Lake Diamonds Receives MCTO Revocation Order From BCSC\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n VANCOUVER, BC- TheNewswire - Margaret Lake Diamonds\nInc. (\"MLD\" or the \"Company\") (TSXV:DIA)\n(FKT:M85A) (OTC:DDIAF)\n \n \n is pleased to announce\nthat it has received a revocation of its Management Cease Trade Order\n(“MCTO”) as of December 21, 2022 from the British Columbia\nSecurities Commission. The company has filed the required records and\nthe cease trade order is revoked.\n \n \n \n \n The Board is also notifying shareholders of a proposed\nconsolidation (the “Share Consolidation”) of MLD outstanding\ncommon shares (the “Common Shares”) on an up to 10:1 basis (the\n“Consolidation Ratio”) as may be determined by the board of\ndirectors of the Company (the “Board”) in its sole discretion,\nsubject to regulatory approval.\n \n \n \n \n The primary objective for MLD Board to pursue a Share\nConsolidation is to provide greater flexibility in any future\nacquisitions and financings the Company may wish to complete. In\nparticular, in light of the current market conditions, management\nbelieves it will be beneficial to the current shareholders to have\nissued share capital made more attractive to future investors.\nAdditionally, an increase in per-share trading price of the Common\nShares following the Share Consolidation may reduce certain\ntransaction costs for investors when trading in the Common\nShares.\n \n \n \n \n In determining whether to seek a Share Consolidation,\nthe Board also considered a number of other market and business\nfactors deemed relevant, as well as general capital markets and\neconomic conditions. The proposed Share Consolidation is part of\nMargaret Lakes overall strategy to drive long-term shareholder value\nand to increase its profile as the Company continues to grow and\nevolve.\n \n \n \n \n About Margaret Lake Diamonds Inc.\n \n \n \n \n Margaret Lake is a Canadian-based mineral exploration\ncompany. As part of its joint venture with Arctic Star Exploration,\nMargaret Lake holds an 18.5-per-cent interest in the Diagras diamond\nproject, Northwest Territories, property. The property hosts 13 known\nkimberlites originally discovered by DeBeers in the 1990s, and\nMargaret Lake believes the...