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Montoro Resources Inc. (the "Company") wishes to announce
that at its upcoming Annual General Meeting of members on February
21, 2002 it will be seeking the consent of members to a consolidation
of its share capital on an eight for one, or alternatively a six
for one basis, and a change of its name to Consolidated Montoro
Resources Inc. or such other name as the Board of Directors may
approve.
The Company currently has 13,164,291shares outstanding and 1,645,536
shares will be outstanding after the consolidation on an eight for
one basis or 2,194,049 after the consolidation on a six for one
basis. Incidental to the consolidation, the Company will be
increasing its post-consolidation authorized capital to 100,000,000
shares.
The share consolidation is being proposed in order to allow the
Company greater flexibility to raise financings for any future transactions.
The share consolidation and change of name are subject to members’
approval and being accepted for filing by the Canadian Venture Exchange.
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