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.
"Michael Kennedy"
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.