TORONTO, Aug. 18 /CNW/ - Tenth Power Technologies Corp. (TSX-V:TPI) (the
"Company" or "Tenth Power"). The Company announced today it will proceed with
a consolidation of its common shares at a ratio of 5:1 (i.e. five old common
shares for each one new common share) after receiving TSX Venture Exchange
The consolidation was approved at the Company's annual and special
meeting of shareholders held on July 14, 2009 in Toronto. The consolidation
will become effective with the opening of markets on August 18, 2009. Tenth
Power's trading symbol will remain the same.
The Board of Directors has determined that a consolidation of the
Company's shares at a ratio of 5:1 should increase Tenth Power's flexibility
to consummate future corporate financing activities and to seek additional
Prior to the completion of the consolidation, the Company had 49,070,704
common shares outstanding, and upon completion of the consolidation, the
Company will have approximately 9,814,141 common shares outstanding.
ABOUT TENTH POWER TECHNOLOGIES CORP.
Tenth Power is a Canadian based technology and solutions company. The
Company provides bio identity technology, work flow and resource management
platforms, secure information transfer technology and innovative product
development in integration services. The Company's products and services are
currently being delivered in the Government and manufacturing sectors and are
being prepared for the financial services and health care markets.
For further information:
For further information: Maureen Espin, Tenth Power Technologies Corp.,
Tel: (905) 948-9229 ext: 177