MISSISSAUGA, ON, Dec. 13 /CNW/ - Aeroquest International Limited
("Aeroquest") (TSX-V:AQL) announced that the TSX Venture Exchange (the
"Exchange") has accepted today Aeroquest's notice of intention to proceed with
a normal course issuer bid through the facilities of the Exchange (the "Bid").
Aeroquest intends to purchase for cancellation, from time to time, as it
considers advisable, up to 1,374,660 of its issued and outstanding common
shares, representing 5% of the 27,493,212 common shares outstanding as at
December 7, 2007. Purchases will be made at prevailing market prices through
the facilities of the Exchange.
During the previous 12 months, Aeroquest purchased 399,600 of its common
shares pursuant to a normal course issuer bid that terminated on October 8,
2007. The current Bid will commence on December 17, 2007 and terminate on
December 16, 2008, or on such earlier date as the Bid is completed or
otherwise terminated by Aeroquest.
The board of directors of Aeroquest believe that the current and recent
market prices of Aeroquest's common shares do not give full effect to their
underlying value, based solely on Aeroquest's opinion of its future prospects,
and that, accordingly, the purchase of common shares pursuant to the Bid
represents an investment opportunity for Aeroquest and a worthwhile use of its
About Aeroquest International
Aeroquest International is a world leader in the operation and
development of innovative and proprietary airborne geophysical surveying
platforms servicing the mineral exploration, petroleum exploration, and
environmental industries. Directly, and through its sister company UTS
Geophysics, Aeroquest fields a fleet of over two dozen helicopter and fixed
wing systems and is active on almost every continent in the world. More
information about Aeroquest can be found at www.aeroquest.ca. More information
on UTS Geophysics can be found at www.uts.com.au.
This news release may include statements about expected future events
and/or financial results that are forward-looking in nature and subject to
risks and uncertainties. Aeroquest cautions that actual performance will be
affected by a number of factors, many of which are beyond its control. Future
events and results may vary substantially from what Aeroquest currently
foresees. Discussion of the various factors that may affect future results is
contained in Aeroquest's recent filings, available on SEDAR.
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.
For further information, please contact Roy Graydon, President & Chief
Executive Officer (email@example.com), 905-672-9129, Ext 222.
For further information:
For further information: Roy Graydon, President & Chief Executive
Officer (firstname.lastname@example.org), (905) 672-9129, Ext 222