Spur to make normal course issuer bid
Spur Ventures Inc SVU
Shares issued 17,634,328 2000-01-12 close $0.65
Wednesday Jan 12 2000
Mr. Y.B. Ian He reports
Spur Ventures intends to acquire up to 881,716 of its shares, approximately 5 per cent of the 17,634,328 common shares presently outstanding, by purchasing its own shares through the facilities of the Canadian Venture Exchange at prevailing market prices. As the Canadian Venture Exchange has accepted Spur's notice of intention to make a normal course issuer bid, purchases may occur between Jan. 17, 2000, and Jan. 16, 2001.
Management is of the opinion that the shares of Spur are undervalued in the current market and the current share price does not reflect its balance sheet and portfolio of prospective mineral properties. Further development of properties currently under management is contemplated in the near future.
Directors and senior officers of Spur are not aware of any previously undisclosed material changes or plans or proposals for material changes in the affairs of Spur, nor do any of the directors and officers have the present intention to sell shares of Spur during the normal course issuer bid.
Spur is limited, pursuant to the policies of the Canadian Venture Exchange or issuer bids, to purchase no more than 352,686 shares (2 per cent of the shares outstanding) during any 30-day period or 881,716 shares (5 per cent of the shares outstanding) during a one-year period. There is no obligation on Spur to purchase any of its shares. The directors may determine at anytime to cease the buy-back program.
(c) Copyright 2000 Canjex Publishing Ltd. canada-stockwatch.com
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