RICHMOND HILL, ONTARIO--(Marketwire - June 21, 2012) - MBMI RESOURCES INC. (the "Company") (TSX VENTURE:MBR) announces that, having obtained the approval of its shareholders and the TSX Venture Exchange, the Company has been continued into Ontario and a consolidation of the Company's common shares (the "Common Shares") is now being completed on a ten (10) to one (1) basis, whereby one (1) new Common Share would be issued for every ten (10) pre-consolidation Common Shares issued and outstanding. The Common Shares will begin trading on a consolidated basis on the TSX Venture Exchange beginning on June 22, 2012.
The Company believes that the completion of a share consolidation would facilitate future financings by the Company, as these may be accomplished through the issuance of additional Common Shares. The Company currently has 181,657,658 Common Shares outstanding. After the completion of the share consolidation, the Company would have approximately 18,165,765 Common Shares outstanding.
For further information relating to the Company or this release, please refer to the Company's website at www.mbmiresources.com.
The foregoing information may contain forward-looking statements relating to the future performance of MBMI Resources Inc. Forward-looking statements, specifically those concerning future performance, are subject to certain risks and uncertainties, and actual results may differ materially from the Company's plans and expectations. These plans, expectations, risks and uncertainties are detailed herein and from time to time in the filings made by the Company with the TSX Venture Exchange and securities regulators. MBMI Resources Inc. does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.
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. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.