Mijem Newcomm Tech Considers Share Consolidation and Appoints New Director

Mijem Newcomm Tech Inc., a publicly traded company listed on the Canadian Securities Exchange under the ticker symbol MJEM.X, announced on October 2, 2026, a significant corporate move: the consolidation of its issued and outstanding share capital. The company will proceed with a consolidation on the basis of one new common share for every ten outstanding common shares.

Currently, Mijem Newcomm Tech Inc. has 62,073,075 common 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 based on the consolidation ratio (10:1).

The consolidation is subject to acceptance by the Canadian Securities Exchange (CSE) and is expected to take effect on October 9, 2026. The record date for the consolidation will also be October 9, 2026. The CSE is expected to issue a bulletin advising dealers of the consolidation on October 5, 2026. The company's name and trading symbol will remain unchanged. Mijem Newcomm Tech Inc. has been issued 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 the 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.

In related news, Mijem Newcomm Tech Inc. has appointed Cole Drezdoff as a 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 a director. The company wishes to thank Mr. Gusko for his valued service.