Received by email:
File: IMT.NR Jul.13.16 Seeks Approval for 5 to 1 Consolidation.docx
#600 -625 Howe Street Website: www.MontoroResources.com
Vancouver, B.C. V6C 2T6 E-Mail: gmusil@montororesources.com
Ph.#604-683-6648; Fax #604-683-1350
---> TSX.V: IMT
MONTORO SEEKS APPROVAL FOR FIVE (5) TO ONE (1) CONSOLIDATION
July 13, 2017 - International Montoro Resources Inc. (TSX-V: IMT) (the "Company") advises it will be immediately filin
--->g for, and seeking TSX Venture Exchange approval of, documents relating to the consolidation of the Company's issued
--->and outstanding share capital.
The intended consolidation will be on a basis of one (1) post-consolidation common share for every five (5) pre-consol
--->idation common shares. This consolidation will reduce the issued and outstanding shares of the Company from 76,260,52
--->6 to 15,252,105 shares, assuming no other change in the issued capital. The Company's outstanding options and warrant
--->s will also be adjusted on the same basis (1 new for 5 old) as the common shares, with proportionate adjustments being
---> made to exercise prices. No fractional common shares will be issued, and no cash will be paid in lieu of fractional
--->post-consolidation common shares. The number of post-consolidation common shares to be received by a shareholder will
---> be rounded down to the nearest whole common share. A letter of transmittal will be mailed to shareholders advising t
--->hat: (i) the consolidation has taken effect; and (ii) shareholders should surrender their existing share certificates
--->(representing pre-consolidation common shares) for replacement share certificates (representing post-consolidation com
--->mon shares). Until surrendered, each existing share certificate will be deemed, for all purposes, to represent the nu
--->mber of common shares to which the holder thereof is entitled as a result of the consolidation.
The board of directors believes that the proposed share consolidation is necessary to facilitate new equity investment
--->s in the Company to finance continuing business activities and to investigate new opportunities.
The Company's articles of incorporation authorize the board of directors to approve certain changes to the Company's c
--->apital structure, including the consolidation. As such, shareholder approval is not required. The consolidation is s
--->ubject to approval by the TSX Venture Exchange. The Company does not intend to change its name or its current trading
---> symbol in connection with the proposed share consolidation. The effective date of the consolidation will be disclose
--->d in a subsequent news release. Notwithstanding the foregoing, the board of directors may, at its discretion, determi
--->ne not to effect the consolidation.
For more information on International Montoro Resources Inc., review the website at www.MontoroResources.com, contact
--->Gary Musil at (604) 683-6648 or email: gmusil@montororesources.com.
About International Montoro Resources Inc.
Montoro is focused on advancing its 100%-owned Serpent River - Elliot Lake, Northern Ontario, Pecors magnetic anomaly
---> - a potential Ni-Cu-PGE discovery. The southwestern portion of the property has located Uranium/REE mineralization fr
--->om previous drilling in the general area where Rio Algom discovered uranium. The property comprises 10 mineral claims
--->(115 units), or approximately 1,840 ha
In addition the Company owns jointly with Belmont Resources Inc. (50/50) its Crackingstone (982 ha, 2,427 acres) and O
--->rbit (11,109 ha, 27,450 acres) Uranium properties in the Uranium City District, Northern Saskatchewan, and is seeking
--->a joint venture partner to continue development of this advanced property.
ON BEHALF OF THE BOARD
"Gary Musil"
Gary Musil,
President/CEO and Director
Disclaimer for Forward-Looking Information:
Certain statements in this release are forward-looking statements which reflect the expectations of management. Forwar
--->d-looking statements consist of statements that are not purely historical, including any statements regarding beliefs,
---> plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that
--->may cause actual results, performance or developments to differ materially from those contained in the statements. No
---> assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do
---> occur, what benefits the Company will obtain from them. These forward-looking statements reflect management's current
---> views and are based on certain expectations, estimates and assumptions which may prove to be incorrect.
Neither 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.
File: IMT.NR Jul.13.16 Seeks Approval for 5 to 1 Consolidation.pdf
#600 -625 Howe Street Website: www.MontoroResources.co
--->m
Vancouver, B.C. V6C 2T6 E-Mail: gmusil@montororesources.
--->com
Ph.#604-683-6648; Fax #604-683-1350 T
--->SX.V: IMT
MONTORO SEEKS APPROVAL FOR FIVE (5) TO ONE (1) CONSOLIDATION
July 13, 2017 - International Montoro Resources Inc. (TSX-V: IMT) (the "Company") advises it will be
immediately filing for, and seeking TSX Venture Exchange approval of, documents relating to the consolidation of
the Company's issued and outstanding share capital.
The intended consolidation will be on a basis of one (1) post-consolidation common share for every five (5) pre-
consolidation common shares. This consolidation will reduce the issued and outstanding shares of the Company
from 76,260,526 to 15,252,105 shares, assuming no other change in the issued capital. The Company's outstanding
options and warrants will also be adjusted on the same basis (1 new for 5 old) as the common shares, with
proportionate adjustments being made to exercise prices. No fractional common shares will be issued, and no cash
will be paid in lieu of fractional post-consolidation common shares. The number of post-consolidation common
shares to be received by a shareholder will be rounded down to the nearest whole common share. A letter of
transmittal will be mailed to shareholders advising that: (i) the consolidation has taken effect; and (ii) shareholder
--->s
should surrender their existing share certificates (representing pre-consolidation common shares) for replacement
share certificates (representing post-consolidation common shares). Until surrendered, each existing share
certificate will be deemed, for all purposes, to represent the number of common shares to which the holder thereof is
entitled as a result of the consolidation.
The board of directors believes that the proposed share consolidation is necessary to facilitate new equity
investments in the Company to finance continuing business activities and to investigate new opportunities.
The Company's articles of incorporation authorize the board of directors to approve certain changes to the
Company's capital structure, including the consolidation. As such, shareholder approval is not required. The
consolidation is subject to approval by the TSX Venture Exchange. The Company does not intend to change its
name or its current trading symbol in connection with the proposed share consolidation. The effective date of the
consolidation will be disclosed in a subsequent news release. Notwithstanding the foregoing, the board of directors
may, at its discretion, determine not to effect the consolidation.
For more information on International Montoro Resources Inc., review the website at www.MontoroResources.com,
contact Gary Musil at (604) 683-6648 or email: gmusil@montororesources.com.
About International Montoro Resources Inc.
Montoro is focused on advancing its 100%-owned Serpent River - Elliot Lake, Northern Ontario, Pecors magnetic anomaly
--->- a potential Ni-Cu-
PGE discovery. The southwestern portion of the property has located Uranium/REE mineralization from previous drilling
--->in the general area
where Rio Algom discovered uranium. The property comprises 10 mineral claims (115 units), or approximately 1,840 ha
In addition the Company owns jointly with Belmont Resources Inc. (50/50) its Crackingstone (982 ha, 2,427 acres) and O
--->rbit (11,109 ha, 27,450
acres) Uranium properties in the Uranium City District, Northern Saskatchewan, and is seeking a joint venture partner
--->to continue development
of this advanced property.
ON BEHALF OF THE BOARD
"Gary Musil"
Gary Musil,
President/CEO and Director
Disclaimer for Forward-Looking Information:
Certain statements in this release are forward-looking statements which reflect the expectations of management. Forwar
--->d-looking statements
consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations
--->or intentions regarding the
future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developme
--->nts to differ materially
from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-lo
--->oking statements will
occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect
--->management's current
views and are based on certain expectations, estimates and assumptions which may prove to be incorrect.
Neither 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 .
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