Here is some good news for my pick PHO.v
Photon Control Announces Normal Course Issuer Bid
BURNABY, BC , Dec. 30, 2015 /CNW/ - Photon Control Inc. (the "Company") (TSX-V: PHO) announces that the TSX Venture Exchange ("TSX-V") has accepted the Company's notice of intention to make a normal course issuer bid (the "NCIB") for its common shares through the facilities of the TSX-V. On January 4, 2016, the Company may commence making purchases of up to a maximum of 5,000,000 common shares, which represents approximately 4.8% of the Company's 103,960,018 issued and outstanding common shares currently. A purchase of common shares under the NCIB also may not, when aggregated with the total of any other purchases in the 30 days preceding the purchase, whether through the facilities of the TSX-V or otherwise, exceed 2% of the total issued and outstanding common shares of the Company at the time the purchase is made. Euro Pacific Canada, Inc. will be conducting the NCIB on behalf of the Company. Any common shares acquired under the NCIB will be purchased at the market price. All shares acquired by the Company pursuant to the NCIB will be cancelled following purchase.
The Company is conducting the NCIB to give it the flexibility to purchase its common shares if it determines that, as a result of the difference in the fundamental value of the common shares and the market price, it is in the best interests of the Company to do so.
The normal course issuer bid will terminate on the earlier of the date determined by the Company and January 3, 2017.
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