Tri Origin Exploration (TOE-V) Dec 11, '14 is pleased to announce today that it intends to proceed with a normal course issuer bid to purchase up to 7,768,179 common shares of the Company (the "Bid").
The Company is commencing the Bid because it believes that the current market price of its Shares may not fully reflect the underlying value of the Company's business and its future business prospects. The Company believes that the purchase of Shares for cancellation is in the best interests of the Company's shareholders by increasing the respective proportionate shareholdings and therefore increasing the respective equity interest in the Company for all remaining shareholders.
As of the date of this press release, the Company has 89,403,306 Shares issued and outstanding. The 7,768,179 Shares that may be purchased by the Company under the Bid represent approximately 10% of the public float of the Company. The Company has received acceptance from the TSX Venture Exchange ("TSXV") to commence the Bid on December 15, 2014. The Bid will terminate on December 14, 2015 or at such earlier date in the event that the number of Shares sought in the Bid has been repurchased. The Company reserves the right to terminate the Bid earlier if it feels that it is appropriate to do so.
All Shares will be purchased on the open market through the facilities of the TSXV, and payment for the Shares will be in accordance with TSXV policies. The price paid for the Shares will be the market price at the time of purchase. Purchasing may be suspended at any time, and no purchases will be made other than by means of open market transactions during the term of the Bid.
The Company has engaged Jones, Gable & Company Limited to act as broker through which the Bid will be conducted. There have not been any previous purchases under a normal course issuer bid by the Company within the past 12 months.
For more information about Tri Origin, please visit www.triorigin.com or SEDAR www.sedar.com or contact:
Dr. Robert Valliant, President
Tri Origin Exploration Ltd.
Tel: (905) 727-1779
E-mail: invest@triorigin.com |
