West Vancouver, British Columbia – March 3, 2020 – Magnum Goldcorp Inc. (the “Company” or “Magnum Goldcorp”) wishes to announce that, further to its news release of March 2, 2020, and 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 2.5 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 24,170,784 common shares issued and outstanding and if the Proposed Consolidation is affected, there will be 9,668,314 common shares issued and outstanding. In connection with the Proposed Consolidation, the name of the Company will notchange and the Company’s trading symbol will remain as “MGI”.
For further information, visit the Company’s website at www.magnumgoldcorp.com.
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.