Len, how about this for a NR:
Mr. Hugh Ross reports
Gentry Resources intends to make a normal course issuer bid through the
facilities of the Toronto Stock Exchange to buy up to 900,000 of its issued
and outstanding common shares. This amount represents less than 5 per cent
of the 18,254,732 issued and outstanding common shares of Gentry. The bid
will commence July 26, 1999, and expire July 25, 2000, and any shares
acquired pursuant to the bid will be returned to treasury.
During the previous 12-month period, Gentry purchased, pursuant to a
previous normal course issuer bid, 449,000 common shares at an average
price of 44 cents per share. These shares were subsequently returned to
treasury.
The reason for the normal course issuer bid is that Gentry believes that
from time to time the market price of the common shares may not reflect the
underlying value of such shares and that, at such times, the purchase of
common shares for cancellation will increase the proportionate interest of,
and be advantageous to, all remaining shareholders. In addition, any
purchases made by Gentry will afford increased liquidity to those
shareholders of the corporation who may wish to dispose of their common
shares.
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