Toronto, Ontario--(Newsfile Corp. - October 2, 2026) - Mijem Newcomm Tech Inc. (CSE: MJEM.X) ("Mijem" or the "Company") today announced it is proceeding with a consolidation of its issued and outstanding share capital on the basis of one (1) new common share for every ten (10) outstanding common shares (the "Consolidation").

The Company currently has 62,073,075 common shares (the "Shares") issued and outstanding. Following the Consolidation, the Company will have approximately 6,207,312 Shares issued and outstanding. No fractional Shares will be issued under the Consolidation, and any fraction will be rounded to the nearest whole number. The exercise or conversion price and/or the number of Shares issuable under any of the Company's outstanding convertible securities, stock options and warrants will be proportionally adjusted after giving effect to the Consolidation based on the Consolidation ratio (10:1).

Subject to acceptance by the Canadian Securities Exchange (the "CSE"), the Shares are expected to begin trading on a post-Consolidation basis on the CSE when markets open on October 9, 2026 (the "Effective Date"). The record date for the Consolidation will also be October 9, 2026. The CSE is expected to issue a bulletin on October 5, 2026, advising dealers of the Consolidation. The Company's name and trading symbol will not change. The Company has been issued with a new CUSIP Number 59863N606.

The Company's Board of Directors anticipates that the potential benefits of the Consolidation include increased investor interest and reduced volatility. The Consolidation was approved by the Company's shareholders at its annual meeting held on September 3, 2025. Additional details about the Consolidation can be found in the Company's Management Information Circular dated July 18, 2025.

Registered shareholders holding their Common Shares in book-entry or direct registration system form will have their pre-Consolidation Common Shares automatically exchanged for post-Consolidation Common Shares on the Record Date and will not be required to take any action. Registered shareholders holding physical share certificates should complete and return Letter of Transmittal that was sent to them with their proxy materials in conjunction with the Company's September 3, 2025, annual meeting. No action is required by non-registered shareholders (shareholders who hold their common shares through an intermediary) to effect the Consolidation.

The Company is also pleased to announce it has appointed Cole Drezdoff as director of the Company effective October 2, 2026. Mr. Drezdoff is a commercially focused marketing and business development professional with experience in digital strategy, market research, investor engagement, and client growth initiatives. A graduate of Toronto Metropolitan University's Ted Rogers School of Management with a Bachelor of Commerce in Marketing Management, he has supported companies in strengthening brand visibility, improving stakeholder communications, and driving business development. Coincident with the appointment of Mr. Drezdoff, Brian Gusko is stepping down as director. The company wishes to thank Mr. Gusko for his valued service.

Cautionary Note Regarding Forward-Looking Statements

This news release contains "forward-looking statements" within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking statements. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or may contain statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "will continue", "will occur" or "will be achieved".

Forward-looking information in this news release is based on certain assumptions and expected future events. These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements. Readers are cautioned that the foregoing list is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated.

Forward-looking statements contained in this news release are expressly qualified by this cautionary statement and reflect the Company's expectations as of the date hereof and are subject to change thereafter. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities, in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/317053

Source: Mijem Newcomm Tech Inc.