Wheaton River to buy back shares
Wheaton River Minerals Ltd WRM
Shares issued 52,729,246 Oct 16 close $0.38
Tue 17 Oct 2000 News Release
Mr. Ian McDonald reports
Wheaton River Minerals has filed with the Toronto Stock Exchange a notice
of its intention to make a normal course issuer bid for its common shares
through the facilities of the TSE.
Wheaton River may, during the 12-month period commencing Oct. 19, 2000, and
ending Oct. 18, 2001, purchase on the TSE up to 5,032,528 common shares in
total, being approximately 10 per cent of the outstanding public float of
50,325,280 common shares of Wheaton River (shares held by persons other
than senior officers, directors and principal shareholders of Wheaton
River). The price which Wheaton River will pay for any such shares will be
the market price at the time of acquisition and any shares acquired shall
be cancelled. The actual number of common shares which may be purchased and
the timing of any such purchases will be determined by Wheaton River.
During the 12-month period prior to the commencement of the normal course
issuer bid, Wheaton River purchased 62,500 of its common shares through the
facilities of the TSE at an average price of 35.7 cents per share. There
are 52,729,246 common shares of Wheaton River outstanding.
Wheaton River believes that its common shares have been trading in a price
range which does not adequately reflect their value in relation to Wheaton
River's business and its future business prospects. As a result, depending
upon future price movements and other factors, Wheaton River believes that
its outstanding common shares may represent an attractive investment and a
desirable use of a portion of its available funds.
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