Montero Announces Effective Date of Share Consolidation

TORONTO, May 01, 2025 (GLOBE NEWSWIRE) -- Montero Mining and Exploration Ltd. (TSX-V: MON) (OTCPK: MXTRF) (“Montero” or the “Company”) announces that, further to its press release dated April 16, 2025, the TSX Venture Exchange (“TSXV”) has approved the Company’s proposed consolidation (the “Consolidation”) of its common shares (“Common Shares”) on the basis of six (6) pre-Consolidation Common Shares for one (1) post-Consolidation Common Shares. The Common Shares will commence trading on the TSXV on a post-Consolidation basis effective at market opening on May 5, 2025. As of the date hereof, there are 50,122,975 Common Shares issued and outstanding. On a post-Consolidation basis, the Company shall have 8,353,833 Common Shares issued and outstanding. Pursuant to the Business Corporations Act (British Columbia) and the articles of the Company, shareholder approval of the Consolidation is not required, and the Consolidation was approved by way of resolution passed by the board of directors of the Company.