Tumi Resources Limited - Tumi announces private placement,
consolidation and appointment of new director
TSXV - TM
Frankfurt -
TUY
Pink Sheets - TUMIF
VANCOUVER,
Jan. 9, 2013 /CNW/ - Tumi
Resources Limited (the "Company") (TSXV: TM) (OTCPK: TUMIF)
(Frankfurt: TUY). The Company announces that it proposes
to undertake a non-brokered private placement financing of up to
12,500,000 units at $0.05 per unit
(the "Units") to raise gross proceeds of $625,000. Directors and Officers of the Company
will be participating in the private placement financing. Each Unit
will consist of one common share and one common share purchase
warrant (the "Warrants"). Each Warrant will entitle holders
to purchase one common share of the Company at a price of
$0.10 per common share for a period
of three years from closing of the private placement financing. The
funds raised will be used to fund further work on the Company's
projects in Sweden and
Mexico, and for general working
capital purposes.
The Company also announces that it proposes to
consolidate its share capital on a four (old) for one (new) share
basis. The Company will seek the approval of its shareholders
at a special general meeting to be held on February 21, 2013. The proposed consolidation
will be undertaken after closing of the private placement
financing.
As at the date hereof, the Company has
50,655,039 common shares issued and outstanding. After giving
effect to the issuance of 12,500,000 common shares under the
private placement financing and the proposed consolidation, the
Company would have approximately 15,788,759 common shares issued
and outstanding.
The Company does not intend to change its name
upon completion of the proposed consolidation and anticipates that
its stock symbol will remain the same.
Management of the Company believes that an
amendment to the Company's share structure will be favorable to
assist in attracting additional equity investment in the Company
and possible property acquisitions.
The private placement and consolidation are
subject to receipt of all necessary regulatory approvals, including
TSX Venture Exchange approval, as well as shareholder approval with
respect to the proposed consolidation.
The Company also announces the appointment of
Mr. Scott Emerson as a director of
the Company. Mr. Emerson brings to the Company over 26 years
of experience in the junior resource capital markets.
On behalf of the Board,
"David Henstridge"
David Henstridge, 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 Limited