VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 26, 2011) - Further to the news release dated July 25, 2011, Venturi Ventures Inc. (formerly, Urodynamix Technologies Ltd.) (TSX VENTURE:URO) (the "Company") announces that the Company received TSX Venture Exchange (the "TSX-V") acceptance and will proceed with the consolidation of all of its issued and outstanding shares on the basis of 20 "old" common shares for one "new" common share (the "Consolidation") and the name change from "Urodynamix Technologies Ltd." to "Venturi Ventures Inc." in conjunction with the Consolidation.
At the annual and special general meeting of the shareholders of the Company held on July 19, 2011, the shareholders passed a special resolution authorizing the Consolidation. The purpose of the Consolidation is to optimize the capital structure of the Company as it pursues new business opportunities. As at August 26, 2011 there were 137,688,885 common shares issued and outstanding. Upon completion of the Consolidation, it is expected that approximately 6,884,444 common shares will be issued and outstanding. Details of the Consolidation may be found in the Company's Management Information Circular dated June 17, 2011, which has been filed on the Canadian System for Electronic Document Analysis and Retrieval (SEDAR) and is available for viewing under the Company's name at www.sedar.com.
Trading on a post-consolidated basis under the new name "Venturi Ventures Inc." will commence on the TSX-V at the opening of trading on August 29, 2011. The CUSIP number for the Company's post-consolidation common shares will be 92330B103 and the trading symbol will be "VVV".
Fractional shares remaining after giving effect to the Consolidation will be cancelled, such that shareholdings of each shareholder will be rounded down to the nearest whole number of post-consolidation common shares.
Certain information contained in this press release may be forward-looking and is subject to unknown risks, which could cause actual results to differ materially from those set forth or implied herein. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove correct.
Neither the 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.