ComWest Enterprise Announces Normal Course Issuer Bid
02 12월 2011 - 8:18AM
Marketwired
ComWest Enterprise Corp. (TSX VENTURE:CWP)(TSX VENTURE:CWP.A)
("ComWest") is pleased to advise that the TSX Venture Exchange
("TSXV") has accepted ComWest's Notice of Intention to make a
normal course issuer bid ("NCIB") for up to 5% of its outstanding
Class A and Class B shares. ComWest believes that the current
market conditions provide opportunities to acquire its common
shares at attractive prices that do not reflect the underlying
value and that the purchase of common shares for cancellation is an
appropriate use of corporate funds that will increase the
proportionate interest of, and be advantageous to, all remaining
holders of common shares.
The NCIB will consist of the purchase, from time to time, if and
to the extent that ComWest considers it advisable, of up to 404,200
Class A and 112,800 Class B shares. Purchases will be made through
the facilities of the TSXV. Purchase and payment for the securities
will be made by ComWest in accordance with TSXV requirements and
the price which the Issuer will pay for any securities acquired by
it will be the market price of the securities at the time of
acquisition. There are currently 8,084,301 Class A and 2,256,898
Class B shares outstanding.
The NCIB will commence on December 6, 2011 and terminate on
November 30, 2012 or such earlier date as the NCIB is completed or
terminated at the option of ComWest.
ON BEHALF OF THE BOARD
Douglas F. Good, President
Neither the TSXV nor its Regulation Services Provider (as that
term is defined in the policies of the TSXV) accepts responsibility
for the adequacy or accuracy of this release.
Contacts: ComWest Enterprise Corp. Investor Relations 778 370
1725dgood@comwestenterprise.ca
(TSXV:CWP)
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