Micron Solutions, Inc. Board Announces Update to Stock Splits Process and Plan to Voluntarily Delist from OTC Markets

FITCHBURG, Mass., Oct. 31, 2023 (GLOBE NEWSWIRE) --  Micron Solutions, Inc. (OTC Pink Markets: MICR) (the “Company”), a diversified contract manufacturing organization, through its wholly-owned subsidiary, Micron Products, Inc., producing highly-engineered, innovative components requiring precision machining and injection molding, announced today an update to the Board’s previously approved proposal to effect a 1-for-1,000 reverse stock split (the “Reverse Stock Split”) of the Company’s Common Stock, followed immediately by a 1,000 to 1 forward stock split for the Company’s Common Stock (the “Forward Stock Split”, and with the Reverse Stock Split, the “Stock Splits”), which Stock Splits will be enacted through the filing of amendments to the Company’s Certificate of Incorporation (the “Certificates of Amendment”) with the Secretary of State of the State of Delaware. The Company is in the process of seeking the approval of the Company’s stockholders through written consent, and is working to finalize the notification process with FINRA and the OTC Markets. The Company originally anticipated that this process would be completed by October 31, 2023, but now expects to complete the Stock Splits process as soon as practicable within the fourth quarter of 2023.

If approved by the Stockholders, the Company expects to file the Certificates of Amendment following such stockholder approval subject to finalization of the FINRA and OTC notification processes. However, the Board retains the authority to abandon the Stock Splits at any time prior to filing the Certificates of Amendment with the Secretary of State of the State of Delaware if it determines the Stock Splits are no longer in the best interest of the Company.

During this time the Company’s Common Stock is expected to continue to be quoted on the OTC Pink Markets. However, the Company does not intend to continue to publish current information or take such actions to enable a trading market in its Common Stock, and can provide no assurances that any broker-dealer will continue to make a market in its stock, maintain quotation prices, or that there will be any trading level in the Company’s Common Stock.   Following the enactment of the Stock Splits, the Company’s expects not to be traded on the OTC Markets with trading only done privately.