(TheNewswire)
VANCOUVER, BC – TheNewswire- June 14, 2023 - Margaret Lake Diamonds Inc.("MLD" or the "Company") (TSXV:DIA) (FKT:M85)(OTC:DDIAF) ("Margaret Lake" or the"Company") announces that, further to the Company's newsrelease dated May 24, 2023, the Company will consolidate its commonshares (the " Shares ") on the basis of ten (1)pre-consolidation Shares for one (1) post-consolidation Share of theCompany (the " Consolidation ").
The Company's post Consolidation Shares are expected tobegin trading on the TSX Venture Exchange on June 16, 2023. The nameof the Company and trading symbol will remain the same after theConsolidation. The new CUSIP number will be 56658A401 and the newISIN number will be CA56658A4019 for post Consolidation.
The Consolidation will result in the number of issuedand outstanding Shares being reduced from 47,412,288 to4,741,230 Shares. No fractional Shares will be issued pursuant to the Consolidation. Each fractional Share remaining after theConsolidation that is less than one-half of one Share will becancelled and each fractional Share that is at least one-half of oneShare will be changed to one whole Common Share.
A letter of transmittal will be mailed to registeredshareholders by the Company’s transfer agent, Endeavor TrustCorporation once the Consolidation has taken effect. The letter oftransmittal contains instructions on how registered shareholders canexchange their share certificates evidencing their pre-consolidationshares for new share certificates representing the number ofpost-consolidation shares to which they are entitled. Beneficialshareholders holding their shares through a brokerage may be subjectto different procedures for obtaining their post-consolidation shares. If shareholders have any questions in this regard, they areencouraged to contact their respective brokerage orintermediary.
On behalf of the Board
Margaret Lake Diamonds Inc.
"Yari Nieken"
President, Chief Executive Officer, Chairman
Tel: 604.328.0425 | Email: ynieken@gmail.com
Neither the TSX Venture Exchange norits Regulation Services Provider (as that term is defined in thepolicies of the TSX Venture Exchange) accepts responsibility for theadequacy or accuracy of this release.
Disclaimer forForward-Looking Information
Information set forth in this newsrelease may involve forward-looking statements under applicablesecurities laws. Forward-looking statements are statements that relateto future, not past, events. In this context, forward-lookingstatements often address expected future business and financialperformance, and often contain words such as “anticipate”,“believe”, “plan”, “estimate”, “expect”, and“intend”, statements that an action or event “may”,“might”, “could”, “should”, or “will” be taken oroccur, including statements that address potential quantity and/orgrade of minerals, potential size and expansion of a mineralized zone,proposed timing of exploration and development plans, or other similarexpressions. All statements, other than statements of historical factincluded herein including, without limitation, statements regardingthe use of proceeds, TSXV final approval, and the explorationpotential of the Diagras project based on historical drill results andforward-looking statements. By their nature, forward-lookingstatements involve known and unknown risks, uncertainties and otherfactors which may cause our actual results, performance orachievements, or other future events, to be materially different fromany future results, performance or achievements expressed or impliedby such forward-looking statements. Such factors include, amongothers, the following risks: the need for additional financing;operational risks associated with mineral exploration; fluctuations incommodity prices; title matters; and the additional risks identifiedin the annual information form of the Company or other reports andfilings with the TSXV and applicable Canadian securities regulators.Forward-looking statements are made based on management’s beliefs,estimates and opinions on thedate that statements are made, and the Company undertakes noobligation to update forward-looking statements if these beliefs,estimates and opinions or other circumstances should change, except asrequired by applicable securities laws. Investors are cautionedagainst attributing undue certainty to forward-lookingstatements.
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