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Press release from CNW Group

BSM Technologies Inc. completes share consolidation

Friday, August 31, 2012

BSM Technologies Inc. completes share consolidation07:30 EDT Friday, August 31, 2012TORONTO, Aug. 31, 2012 /CNW/ - BSM TECHNOLOGIES INC. (TSX-V:GPS) ("BSM") announces that it has received TSX Venture Exchange approval for the consolidation of BSM's issued and outstanding common shares ("Common Shares") on the basis of one new Common Share for every ten Common Shares presently issued and outstanding.  BSM's Common Shares are expected to begin trading on a consolidated basis on the TSX Venture Exchange on Friday, August 31, 2012."We are proceeding with share consolidation from a position of strength," said Aly Rahemtulla, President and CEO of BSM. "We believe that reducing our share capital to a more manageable level as well as raising our share price will help to generate more interest in our Company from the investment community, particularly in light of recent developments such as our large contract wins and record third quarter results."A new CUSIP number of 055714406 replaces BSM's old CUSIP number of 055714307 to distinguish between the pre and post-consolidated Common Shares.  BSM's name and trading symbol will remain unchanged.  Following the completion of the Common Share consolidation, the Company will have approximately 28,587,262 Common Shares issued and outstanding.Letters of transmittal describing the details of the share consolidation and the process by which shareholders obtain actual share certificates representing the consolidated common shares will be mailed out to BSM's registered shareholders September 4th, 2012. Registered shareholders may also obtain copies of the letter of transmittal by contacting their brokers or other intermediary or BSM's transfer agent, Computershare Investor Services Inc.Shareholders who hold their shares through their broker or other intermediary and do not have actual share certificates registered in their name will not be required to complete and return a letter of transmittal. Any pre-consolidation common shares owned by such shareholders will automatically be adjusted as a result of the share consolidation to reflect the applicable number of post-consolidation common shares owned by them and no further action is required to be taken by such shareholders. If as a result of the consolidation a shareholder becomes entitled to a fractional share, such fractions will be rounded to the nearest whole common share.About BSM Technologies ( Technologies, through its subsidiary BSM Wireless Inc., is a leading provider of remote monitoring, fleet tracking, fleet maintenance, and business intelligent engine providing real time, web-based tracking of mobile and fixed assets. BSM provides solutions for commercial, government, and law enforcement organizations who manage and operate diverse assets and large fleets, and who seek to enhance customer service, improve the safety of their drivers and vehicles, and lower business costs.For more information, please visit http://www.bsmwireless.comForward Looking Statements - Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of BSM, including, but not limited to the impact of general economic conditions, industry conditions, currency fluctuations, dependence upon regulatory approvals and the availability of future. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.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.SOURCE: BSM Technologies Inc.For further information: Aly Rahemtulla President & CEO BSM Technologies Inc. 1-416-675-1201 Craig MacPhail TMX | Equicom 1-416-815-0700, ext. 290