Mineworx Provides Update on Share Consolidation

NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES NEWS WIRE SERVICES.‎

CALGARY, Alberta, March 19, 2021 (GLOBE NEWSWIRE) -- Mineworx Technologies Ltd., (the "Corporation" or "Mineworx") (TSXV: MWX) (OTCQB: MWXRF) (FSE: YRS WKN: A2DSW3) announced that, further to its January 22, 2021 news release, effective on or about Tuesday, ‎March 23, 2021, the Corporation will complete the consolidation (the “Consolidation”) of its Common Shares on the basis of 2 pre-Consolidation Common Shares for 1 post-Consolidation ‎Common Share, subject to regulatory approval, including approval of the TSX Venture Exchange (“TSX ‎Venture”). Where the exchange results in a fractional share, the number of Common Shares will be ‎rounded up to the next greater whole number of Common Shares if the fractional entitlement is equal to or greater than 0.5 and shall, without any additional compensation, be rounded down to the next lesser whole number of Common Shares if the fractional entitlement is less than 0.5 and, in calculating such fractional interests, all Common Shares registered in the name of and held by such Shareholder shall be aggregated. Shareholder approval of the Consolidation was obtained at the special shareholders meeting held on March 2, 2021. A new CUSIP number of 603465204‎ replaces the old ‎CUSIP number of 603465105, to distinguish between the pre- and post- consolidated Common Shares. ‎The Corporation’s name and trading symbol will remain unchanged. ‎

The Consolidation is being conducted on a “push-out” basis. Shareholders of the Corporation, with or ‎without a physical share certificate, do not need to take any action with respect to the Consolidation. Share ‎certificates for the post-Consolidation Common Shares will be mailed on or about March 25, 2021. ‎Existing share certificates will be cancelled. ‎

Commencing at the opening of trading on or about Tuesday, ‎March 23, 2021, the Common Shares of the ‎Corporation will trade on a post-Consolidation basis on the TSX Venture. Following the closing of the Offering and the completion of the Consolidation, there ‎are expected to be 342,766,063 post-Consolidation Common Shares outstanding.‎

About Mineworx

Mineworx is positioned for growth with its partnerships in the E-Waste, Catalytic Converter and mining sectors. The objective is to utilize licensed and proprietary technologies to extract precious metals in an environmentally responsible, sustainable and profitable manner from niche market opportunities. For further information, go to www.mineworx.net