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"
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 Limited