West Vancouver, British Columbia – June 5, 2018 – Magnum Goldcorp Inc. (the “Company” or “Magnum Goldcorp”) wishes to announce that, subject to required TSX Venture Exchange approval, the Company intends to proceed with a proposed consolidation of its issued common share capital on the basis of 4 old common shares for 1 new common share (the “Proposed Consolidation”).
Management believes that the Proposed Consolidation is in the best interest of the Company and will allow the Company greater possibilities with respect to future financings. Presently, the Company has 85,182,986 common shares issued and outstanding and if the Proposed Consolidation is affected, there will be 21,295,747 common shares issued and outstanding. In connection with the Proposed Consolidation, the name of the Company will not change and the Company’s trading symbol will remain as “MGI”.
For further information, contact Mr. Clive Shallow, Shareholder Communications, at 604-922 2030.
Magnum Goldcorp Inc.
“Douglas L. Mason”
Douglas L. Mason, President and CEO
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.