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Blackline GPS Corp. Announces Proposed Share Consolidation
April 15, 2011 Calgary, Alberta - Blackline GPS Corp. (TSXV: BLN) announced today that it will seek Shareholder approval at its Annual and Special Meeting of Shareholders, to be held on May 12, 2011, to consolidate its Common Shares at a ratio of one (1) new share for each ten (10) outstanding Common Shares.
The Board of Directors of the Corporation has concluded that the consolidation is in the best interest of the Shareholders. If the Shareholders approve the Special Resolution, the consolidation would be implemented at the discretion of the Company's Board of Directors at that time and would then be subject to acceptance by the TSX Venture Exchange. The consolidation is expected to assist the Blackline's goal of fostering increased interest in the Company's shares from a wider audience of potential investors and would better position the Company for future strategic initiatives.
Currently, a total of 142,367,820 common shares in the capital of the Company are issued and outstanding. Accordingly, if put into effect on the basis of ten (10) existing common shares for one (1) new common share, a total of 14,236,782 common shares in the capital of the Company would be issued and outstanding following the said consolidation, assuming no other change in the issued capital.
For further information please contact:
Cody Slater, Chief Executive Officer
cslater@blacklinegps.com
About Blackline: Headquartered in Calgary, Canada, Blackline is an industrial safety and commercial product manufacturer. The company solutions address work environments focused on employee safety, while also offering connected hardware to improve security and communicate logistical information of company assets. The industrial business also aims to supply growing legislated and regulated markets, which exist largely around the globe, service plans which provide functionality based on product hardware. The company also maintains a suite of products and services which service the consumer and retail environment. Blackline's technology, dedication and vision combine to create an ever-growing suite of tools designed to Protect. Share. Connect™.
