(TSX: TVI)
CALGARY, March 18 /CNW/ - TVI Pacific Inc. (TSX: "TVI" or the "Company") today issued a correction from source with respect to the Company's news releases issued on February 20, 2009, at 8:31 a.m. eastern time and 9:00 a.m. eastern time.
These news releases erroneously stated that Clifford M. James and his associated corporations beneficially owned, or were deemed to beneficially own, 63,849,589 common shares of TVI, representing approximately 13.7% of issued and outstanding common shares of the Company. As well, the news releases indicated that, assuming the full exercise of options to acquire TVI common shares held by Mr. James, Mr. James would beneficially own, or would be deemed to beneficially own, 16.6% of the issued and outstanding common shares of the Company. These figures have proven to be incorrect as a result of a calculation error.
In actuality, Mr. James and his associated corporations beneficially own, or are deemed to beneficially own, 63,030,418 common shares of TVI, representing approximately 13.5% of the issued and outstanding common shares of the Company. Assuming the full exercise of options to acquire TVI common shares held by Mr. James, Mr. James would beneficially own, or would be deemed to beneficially own 16.4% of the issued and outstanding common shares of the Company.
TVI has updated the applicable news releases filed on its website at www.tvipacific and understands that Mr. James will be filing an amended and restated early warning report on the SEDAR website at www.sedar.com.
About TVI Pacific Inc. (TSX: TVI) ---------------------------------
TVI Pacific Inc. is a publicly traded Canadian mining company focused on exploring for and producing precious and base metals within district scale systems in the Philippines. The Company's interest in the Canatuan Mine and its other Philippine assets are held through its affiliate, TVI Resource Development (Phils.) Inc.
The Toronto Stock Exchange has neither approved nor disapproved of the information contained herein.