VANCOUVER, Feb. 25, 2014 /CNW/ - Pacific Topaz Resources Ltd. (TSXV: PPZ.H)
(the "Company") announces that the TSX Venture Exchange has approved a share
consolidation of the outstanding share capital of the Company. On February
11, 2014, the Board of Directors approved a consolidation (the
"Consolidation") of the Company's common shares on the basis of two (2)
pre-Consolidation common shares for one (1) post-Consolidation common share.
The reasons for the Consolidation are to increase the Company's flexibility
and competitiveness in the market place and to make the Company's securities
more attractive to a wider audience of potential investors.
The Consolidation will be effective at the open of the market on Thursday,
February 27, 2014 (the "Effective Date"). 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 694933300. The Company's common shares will
continue to trade on the NEX Board of the TSX Venture Exchange under its
current symbol "PPZ.H".
The Company currently has 14,241,063 common shares issued and outstanding. As
at the Effective Date, the Company will have approximately 7,120,531 common
shares issued and outstanding. 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 shareholder's accounts.
ON BEHALF OF THE BOARD OF DIRECTORS
OF PACIFIC TOPAZ RESOURCES LTD.
President & CEO
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION 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 NEW 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.
Michael Kennedy President & CEO Tel: (604) 609-6110
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CO: Pacific Topaz Resources Ltd.
ST: British Columbia
NI: MNG FIN MNA
-0- Feb/25/2014 22:42 GMT
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