TORONTO, ONTARIO--(Marketwire - Dec. 31, 2010) - Zuni Holdings Ltd. (TSX VENTURE:ZNI.H) ("Zuni") and Pacific Safety Products Inc. (TSX VENTURE:PSP) ("PSP" or the "Company") are pleased to announce that PSP has completed the previously announced acquisition (the "Arrangement") of Zuni's outstanding common shares in exchange for PSP common shares at an agreed exchange ratio of one PSP common share for each Zuni common share, which was carried out by way of a statutory plan of arrangement under section 182 of the Business Corporations Act (Ontario).