EDMONTON, Oct. 24, 2013 /CNW/ - Imperial Equities Inc. (TSXV:IEI) today
announced that it intends to make a Normal Course Issuer Bid through
the facilities of and in accordance to the by-laws and rules of the
Toronto Venture Exchange.
Imperial Equities Inc. currently has 9,541,042 outstanding common
shares. The bid will allow Imperial to purchase up to 477,052 common
shares, representing 5% of those outstanding. The bid commenced August
29, 2013 and will terminate August 28, 2014, or earlier if the bid is
complete. Purchases pursuant to the bid will be made through Macquarie
Imperial's management team believes that the current share price does
not reflect the real value of the company. "Imperial Equities shares
have been trading thinly and at values less than breakup, despite the
fact that real estate prices are at an all time high. It is cheaper to
buy the stock that holds the property than it is to buy the property"
said Sine Chadi, President and CEO of Imperial Equities.
Imperial Equities Inc. will purchase the common shares for cancellation
which ultimately will result in increasing the proportionate interest
of all remaining shareholders.
About Imperial Equities Inc.:
Imperial Equities Inc. Is based in Edmonton, Alberta. A diversified
company anchored by commercial and industrial real estate properties in
its targeted Edmonton and Alberta markets. Imperial also distributes
pharmaceutical products to the institutional and retail customers
through its wholly owned subsidiary, Imperial Distributors Canada Inc.
Additional information is available at: www.imperialequities.com
Imperial's common shares are listed on the TSX Venture Exchange under
Neither TSX Venture nor its Regulation Services Provider accepts
responsibility for the adequacy or accuracy of this release.
SOURCE: Imperial Equities Inc.
For further information:
Sine Chadi, CEO
Imperial Equities Inc.
Phone: 780 424-7227