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Version 0.3.40 has now been released from the 0.3 branch.
I would recommend upgrading to TZInfo v1.2.1 if you can though.
TZInfo v1.0.0 and later can either use system zoneinfo data or the tzinfo-data gem. The tzinfo-data gem is being released every time an upstream tzdata version is released.
If you are using Ruby on Rails / ActiveSupport then you'll need to be running version 4.1.0 or later in order to use the newer TZInfo releases.