Tumi Closes Private Placement
# 1305 – 1090 West Georgia Street TSXV - TM Vancouver, BC, V6E 3V7, Canada Tel: (604) 699-0202 Fax: (604) 683-1585 Frankfurt - TUY Email: [email protected]
Pink Sheets - TUMIF www.tumiresources.com
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News Release November 3, 2010
TUMI CLOSES PRIVATE PLACEMENT Vancouver, Canada – Tumi Resources Limited (the “Company”) (TSXV-TM; Pink Sheets – TUMIF; Frankfurt - TUY). Further to the Company’s news release of October 15, 2010, and October 22, 2010, the Company announces the closing of the non-brokered private placement financing (the “Financing’) which raised gross proceeds of $900,000 by the issuance of 7,500,000 common shares and warrants to purchase up to an additional 7,500,000 common shares of the Company (the “Warrants”). The Warrants are exercisable for a period two years at $0.15 per Warrant up to and including November 3, 2011 and at $0.20 per Warrant up to and including November 3, 2012.
All securities issued in connection with the Financing are subject to a four-month hold period expiring March 4, 2011.
The Company has paid $10,656 cash as finder’s fees on a portion of the Financing.
The net proceeds from the financing will be used to fund exploration work on the Company’s mineral properties and for general working capital.
On behalf of the Board,
Company Contact: Investor Information Contact:
Mariana Bermudez at (604) 699-0202 Mining Interactive
"David Henstridge"
or email: [email protected] Nick L. Nicolaas at (604) 657-4058 David Henstridge, President & CEO website: www.tumiresources.com or email: [email protected]
Forward Looking Statements This Company Press Release contains certain "forward-looking" statements and information relating to the Company that are based on the beliefs of the Company's management as well as assumptions made by and information currently available to the Company's management. Such statements reflect the current risks, uncertainties and assumptions related to certain factors including, without limitations, competitive factors, general economic conditions, customer relations, relationships with vendors and strategic partners, the interest rate environment, governmental regulation and supervision, seasonality, technological change, changes in industry practices, and one-time events. Should any one or more of these risks or uncertainties materialize, or should any underlying assumptions prove incorrect, actual results may vary materially from those described herein.
Neither the TSX Venture Exchange, its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange), nor the Frankfurt Stock Exchange accepts responsibility for the adequacy or accuracy of this news release.