Announcement • Oct 05

Micron Solutions, Inc.'s Board Announces Proposal to Enact Stock Splits in Plan to Voluntarily Delist from OTC Markets

Micron Solutions, Inc. (OTCQB: MICR) (the “Company”), a diversified contract manufacturing organization, through its wholly-owned subsidiary, Micron Products, Inc., producing highly engineered, innovative components requiring precision machining and injection molding, announced the Board’s approval of a proposal to effect a 1-for-1,000 reverse stock split (the “Reverse Stock Split”) of the Company’s Common Stock, followed immediately by a 1,000 to 1 forward stock split for the Company’s Common Stock (the “Forward Stock Split”, and with the Reverse Stock Split, the “Stock Splits”), which Stock Splits will be enacted through the filing of amendments to the Company’s Certificate of Incorporation (the “Certificates of Amendment”) with the Secretary of State of the State of Delaware. The Stock Splits remain subject to the approval of the Company’s stockholders, to be obtained through written consent or a special meeting for the purpose of approving the Stock Splits, and the notification processes with FINRA and the OTC Markets, which the Company expects to complete by the end of October 2023. If the Shareholders approve of the Stock Splits, following the filing of the Certificates of Amendment with the Secretary of State of the State of Delaware, a stockholder of record owning fewer than 1,000 shares of Common Stock (the “Minimum Number”) immediately prior to the effective time of the Reverse Stock Split (the “Effective Time”) will only be entitled to a fraction of a share of Common Stock upon the Reverse Stock Split and will be paid in cash in lieu of a fraction of a share of Common Stock, on the basis of $1.50, without interest (“Cash Payment”), for each share of the Company’s Common Stock held by such stockholder immediately prior to the Effective Time (the “Cashed-out Stockholders”). Following the enactment of the Stock Splits, the Company’s expects not to be traded on the OTC Markets with trading only done privately.

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