VANCOUVER, Nov. 27, 2012 /CNW/ - Pacific Topaz Resources Ltd. (the "Company") (TSXV: PPZ.H) announces it will proceed with its proposed share consolidation (the "Consolidation"), as announced in its press release dated November 23, 2012, on the basis of five (5) pre-Consolidation common shares for one (1) post-Consolidation common share. The Consolidation was approved by the Company's shareholders at its Annual General Meeting held on October 25, 2012, and will be effective at the open of the market on November 28, 2012 (the "Effective Date").
The Company currently has 71,205,336 common shares issued and outstanding. As at the Effective Date the Company will have approximately 14,241,067 common shares issued and outstanding. The Company will not change its name as part of the Consolidation, but will issue new share certificates under a new CUSIP number, which is 694933201. The Company's common shares will continue to trade on the NEX Board of the TSX Venture Exchange under its current symbol "PPZ.H".
Registered shareholders will receive a letter of transmittal from Computershare Investor Services Inc., the Company's transfer agent, with information on how to replace their old share certificates with the new share certificates. Brokerage firms will handle the replacement of share certificates on behalf of their shareholders accounts.
On behalf of Pacific Topaz Resources Ltd.
Chief Financial Officer and Corporate Secretary
Neither the TSX Venture Exchange nor its Regulatory Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This release may contain forward-looking statements. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements.
SOURCE: Pacific Topaz Resources Ltd.
For further information:
please contact: Gordon Keep Tel: (604) 609-6110