VANCOUVER, Aug. 12, 2013 /CNW/ - Global Railway Industries Ltd. (the
"Company") announces that effective August 13, 2013 the Company's name
will change to "Chinook Tyee Industry Limited" and its stock trading
symbol will change to "XCX.H". The Company shares trade on the NEX
board of the TSX Venture Exchange. The Company is currently seeking to
identify and evaluate potential businesses with a view to completing a
change of business under the policies of the TSX Venture Exchange. The
Company has net cash assets per post-consolidated share of
approximately $0.95 and approximately 3,472,741 post-consolidated
shares outstanding. The Company's website is www.chinooktyee.com.
In addition, the common shares of the Company will be consolidated
effective August 13, 2013 such that one (1) new common share has been
issued for every four (4) common shares outstanding on the date
hereof. A letter of transmittal has been sent by mail to registered
shareholders instructing shareholders to surrender the certificates
evidencing their common shares for replacement certificates
representing the number of common shares to which they are entitled as
a result of the consolidation. Until surrendered, each certificate
representing common shares prior to the consolidation will be deemed
for all purposes to represent the number of common shares to which the
holder thereof is entitled as a result of the consolidation.
The shareholders of the Company approved the share consolidation, an
alteration to the Company's articles to incorporate advance notice
provisions and elected the following directors to the board: Tom
Kusumoto, Kenneth MacLeod, Alex Blodgett and Greg MacRae, all at the
annual general and special meeting of the Company held on August 8,
2013.
Further details regarding the name change, share consolidation and
advance notice provisions are contained in the Company's Information
Circular dated July 9, 2013, which has been filed on SEDAR at www.sedar.com and are also available on the Company's website at www.chinooktyee.com.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Global Railway Industries Ltd.
Tom Kusumoto
President and Director
Phone: (604) 689-7533
investor@chinooktyee.com
www.chinooktyee.com
Copyright CNW Group 2013