Tumi Resources Limited - Tumi Resources announces approval of the consolidation of its common shares
TSXV - TM
Frankfurt - TUY
Pink Sheets - TUMIF
VANCOUVER, Feb. 22, 2013 /CNW/ - Tumi Resources Limited (the "Company") (TSXV: TM) (OTCPK: TUMIF) (Frankfurt: TUY). The Company announces that at a Special Meeting of Shareholders held on February 21, 2013, the Company received the approval from its shareholders to proceed with the proposed consolidation of its issued and outstanding common shares on the basis of one (1) post-consolidation common share for every four (4) pre-consolidation common shares.
Commencing at opening on Monday, February 25, 2013, the common shares of the Company will trade on a post-consolidated basis on the TSX Venture Exchange under the same trading symbol "TM".
The Company currently has 63,155,039 common shares issued and outstanding and after the consolidation takes effect, the Company will have approximately 15,788,759 common shares issued and outstanding. The number of common shares reserved for issuance by the Company, including common shares reserved for stock options and warrants, will be adjusted to give effect to the consolidation. Any fractional shares of the Company arising from the consolidation will be rounded down to the nearest whole share of the Company.
A letter of transmittal will be sent to shareholders setting out the procedure to be followed by shareholders for use in transmitting their share certificates to the Company's transfer agent in exchange for new certificates representing the number of common shares to which such shareholder is entitled as a result of the consolidation. A shareholder must deliver or send the letter of transmittal, properly completed and duly executed, together with certificate(s) representing its common shares and all other required documents to the Company's transfer agent at the address set forth in the letter of transmittal. It is each shareholder's responsibility to ensure that the letter of transmittal is received by the transfer agent. Upon return of a properly completed letter of transmittal, together with certificates evidencing the common shares, certificates for the appropriate number of new consolidated common shares will be issued at no charge. Non-registered shareholders should consult with their intermediaries for information on exchanging their common shares pursuant to the Consolidation.
On behalf of the Board,
Scott Emerson, President & CEO
Forward Looking Statements This Company Press Release contains certain "forward-looking" statements and information relating to the Company that are based on the beliefs of the Company's management as well as assumptions made by and information currently available to the Company's management. Such statements reflect the current risks, uncertainties and assumptions related to certain factors including, without limitations, competitive factors, general economic conditions, customer relations, relationships with vendors and strategic partners, the interest rate environment, governmental regulation and supervision, seasonality, technological change, changes in industry practices, and one-time events. Should any one or more of these risks or uncertainties materialize, or should any underlying assumptions prove incorrect, actual results may vary materially from those described herein.
Neither the TSX Venture Exchange, its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange), nor the Frankfurt Stock Exchange accepts responsibility for the adequacy or accuracy of this news release.
SOURCE: Tumi Resources LimitedFor further information: