Vancouver, British Columbia, March 16, 2026 (GLOBE NEWSWIRE) -- MegaWatt Lithium and Battery Metals Corp. (CSE:MEGA) (FSE: WR20) (OTCQB: WALRF) (the "Company", "MegaWatt Metals" or "MegaWatt") announces that, further to its news release dated March 6, 2026, and effective March 20, 2026, the Company will consolidate the common shares in the capital of the Company (the "Shares") on the basis of one (1) post-consolidation Share for every twelve (12) pre-consolidation Shares (the "Consolidation"). The Company's name and stock symbol will remain unchanged following the Consolidation. The new CUSIP number will be 58518J309 and the new ISIN number will be CA58518J3091 for the post Consolidation Shares.
The Company currently has 37,250,400 Shares issued and outstanding on a pre-consolidation basis. Upon completion of the Consolidation, there will be approximately 3,104,200 Shares issued and outstanding, subject to adjustment for rounding.
No fractional shares will be issued as a result of the Consolidation. Any fractional shares resulting from the Consolidation will be rounded up or down to the nearest whole Share. The Company's outstanding incentive stock options and warrants will be proportionately adjusted on the same basis (12:1) to reflect the Consolidation, with corresponding adjustments to the applicable exercise prices made in accordance with their respective terms.
The Company's post Consolidation Shares are expected to begin trading on the Canadian Securities Exchange ("CSE") on or about March 20, 2026.
Letters of transmittal with respect to the Consolidation will be mailed to all registered shareholders of the Company. All registered shareholders will be required to submit their share certificates representing the pre Consolidation Shares, together with a properly executed letter of transmittal, to the Company's transfer agent, National Securities Administrators Ltd. (the "Transfer Agent"), in accordance with the instructions provided in the letter of transmittal. Additional copies of the letter of transmittal may be obtained from the Transfer Agent by telephone at 604-559-8880 or by e-mail at admin@endeavortrust.com. Upon receipt of a duly completed letter of transmittal and the applicable pre-consolidation Share certificate(s), the Transfer Agent will issue a post-consolidation Share certificate or Direct Registration Advice representing the post-consolidation Shares.
About MegaWatt Lithium and Battery Metals Corp.
MegaWatt is a British Columbia based company engaged in the acquisition and exploration of mineral properties.
MegaWatt holds a 100% undivided interest (subject to a 1.5% NSR) on all base, rare earth elements and precious metals, in the Cobalt Hill Property, consisting of 8 mineral claims covering an area of approximately 1,727.43 hectares located in the Trail Creek Mining Division in the Province of British Columbia, Canada.
MegaWatt also holds a 100% interest (subject to a 2% NSR) in and to the Route 381 Lithium Property, comprised of 40 mineral claims located in James Bay Territory, north of Matagami in the Province of Quebec, covering 2,126 hectares (see press release dated February 3, 2021), and a 100% interest in 229 additional mineral exploration claims prospective for lithium, also in the James Bay area of Quebec covering an area of 12,116 hectares or 121 square kms.
On Behalf of the Board of Directors,
MegaWatt Lithium and Battery Metals Corp.
Casey Forward, Chief Executive Officer
1055 West Georgia Street, Suite 1500
Vancouver, BC, Canada
V7X 1M5
For Further Information Please Contact:
Kelvin Lee, Chief Financial Officer
klee@k2capital.ca, (604)961-0296
The CSE does not accept responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements relating to the completion of the Consolidation. Forward-looking information is subject to known and unknown risks, uncertainties, and other factors that may cause actual results, events, or developments to differ materially from those expressed or implied by such forward-looking information, many of which are beyond the control of the Company. Although the Company believes that the assumptions underlying such forward-looking information are reasonable, they may prove to be incorrect. Investors are cautioned that forward-looking information is not a guarantee of future performance or events and that actual results may differ materially from those projected in the forward-looking information. The Company's forward-looking information represents management's best judgment based on information currently available. The Company undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, future events, or otherwise, except as required by applicable law. No securities regulatory authority has either approved or disapproved of the contents of this news release.
