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Gold/Mining/Energy : Techmire (TCM) turnaround/lead PE of 4!
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To: robin hood who wrote (7)7/10/1998 5:54:00 PM
From: Ciao  Read Replies (1) of 83
 
Normal Course Issuer Bid

TECHMIRE LTD ("TCM-M") - Normal Course Issuer Bid

Monsieur Stephen Yaffe, Chairman of the Board and Chief Executive Officer of Techmire Ltd. ("Techmire") announced that Techmire intends to purchase, for cancellation, up to a maximum of 107,836 common shares, representing 5% of its issued and outstanding common shares as of July 10, 1998, and up to 1,600 8% convertible unsecured subordinated debentures, representing 5% of its issued and outstanding convertible debentures as of July 10 1998. The shares and the debentures will be purchased over a period of twelve months commencing July 15, 1998 and ending July 14, 1999.

Techmire's Board of directors has approved the acquisition of the shares and the debentures. All transactions shall be completed through the facilities of The Montreal Exchange and shall be effected at market price.

No insiders have as yet indicated that they intend to sell their shares or debentures under the Normal Course Issuer Bid.

Techmire believes that its outstanding Shares and Debentures may on occasion represent an attractive opportunity to realize shareholder value, and that the purchase of Shares and Debentures is an appropriate and desirable use of funds not required for operations. TEL: (514) 987-1707

Catherine Doyle, Le Groupe Columbia
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