Minacs Worldwide doesn't say why stock is so high
Minacs Worldwide Inc (2) (TSX:MXW)
Shares Issued 21,776,876
Last Close 7/16/2004 $2.05
Monday July 19 2004 - News Release
Mr. Jason Craine reports
MINACS ANNOUNCES STATEMENT REGARDING STOCK ACTIVITY
At the request of Market Regulations Services Inc., Minacs Worldwide Inc. has released the following statement regarding its recent stock activity.
As stated at the company's annual general meeting, Minacs will announce a profitable second quarter. While Minacs still cannot specify the level of profitability, management looks forward to discussing these results on its second quarter conference call in mid-August.
Also discussed at the AGM, Minacs has accepted an offer of debt financing, subject to due diligence, from a major, multinational financial services company. The refinancing will allow the company to grow organically, and provide several million dollars of annual cost savings to Minacs and its shareholders.
Finally, as announced at the AGM, Minacs has retained First Wall Street as its financial adviser. So there is no confusion, in the normal course of business, Minacs retains advisers who provide guidance on strategic, legal and financial matters. Minacs will continue to consider all opportunities that are in the best interest of its shareholders.
Other than the above mentioned, there are no corporate developments to account for recent stock activity.
© 2004 Canjex Publishing Ltd. |
