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TORONTO, July 21 /CNW/ - Exclamation Investments Corporation (the "Corporation" or "Exclamation") announced today that the TSX Venture Exchange ("TSXV") has accepted its notice to conduct a normal course issuer bid to purchase a portion of the issued and outstanding common shares in the capital of the Corporation (the "Common Shares") (TSXV: XI) through the facilities of the TSXV. There are currently 27,838,387 Common Shares issued and outstanding. Under the normal course issuer bid, the Corporation intends to purchase up to 1,391,919 Common Shares, representing approximately 5% of the issued and outstanding Common Shares. Notwithstanding the foregoing, pursuant to the policies of the TSXV, the Corporation may not purchase more than 556,768 Common Shares, being approximately 2% of the issued and outstanding Common Shares as of the date hereof.
ScotiaMcLeod Inc. is the appointed dealer through which the bid will be conducted. The bid will commence on July 26, 2010 and will terminate on July 25, 2011 or such earlier time as the bid is completed or terminated at the option of the Corporation. The price that the Corporation will pay for any such Common Shares will be the prevailing market price of such Common Shares on the TSXV at the time of such purchase. The Common Shares so purchased will be cancelled. The Corporation has not made any previous purchases of Common Shares under a normal course issuer bid.
Exclamation believes that, from time to time, the market price of the Common Shares may not fully reflect their underlying value and at such times the purchase of Common Shares would be in the best interests of Exclamation, as such purchases would increase the proportionate interest of, and be advantageous to, all remaining shareholders.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
SOURCE EXCLAMATION INVESTMENTS CORPORATION
For further information: For further information: Exclamation Investments Corporation: Marc Lavine, Chief Executive Officer, Daniel Shields, Chief Financial Officer, t: 1 (888) 838-1666, e: email@example.com, w: www.exclamationinvestments.com