MOSAID Announces Normal Course Issuer Bid



    OTTAWA, Sept. 10 /CNW Telbec/ - MOSAID Technologies Incorporated (TSX:
MSD) today announced its intention to make a normal course issuer bid through
the facilities of the Toronto Stock Exchange, subject to regulatory approval.
    Under the normal course issuer bid, MOSAID would be entitled to purchase
up to 559,583 common shares, representing 5% of the 11,191,669 common shares
currently issued and outstanding. The issuer bid would commence on
September 13, 2007 and would not extend beyond September 12, 2008. On any
given day, MOSAID would not purchase more than 25% of the average daily
trading volume for the last six months. MOSAID's average daily trading volume
during this period was 41,827.
    "I am very pleased to announce this normal course issuer bid," said John
Lindgren, President and CEO, MOSAID. "The Board and Management believe that an
issuer bid at this time is a good use of cash for a growth company focused on
enhancing shareholder value. As we move forward, we will continue to review
other ways to further enhance MOSAID's value proposition."
    Any MOSAID share purchases associated with the issuer bid will be made on
the Toronto Stock Exchange, and the purchased shares will be cancelled.
    MOSAID purchased 375,400 common shares under a normal course issuer bid
between June 28, 2006 and June 27, 2007 for an average price of $26.63 per
common share.

    About MOSAID

    MOSAID Technologies Inc. is one of the world's leading intellectual
property companies. MOSAID develops semiconductor memory technology and
licenses patented intellectual property in the areas of semiconductors, and
wired and wireless communications systems. MOSAID counts many of the world's
largest semiconductor companies among its customers. Founded in 1975, MOSAID
is based in Ottawa, Ontario. For more information, visit www.mosaid.com.

    Forward Looking Information

    This document and certain other public documents incorporated by
reference in this document, contain forward-looking statements to the extent
they relate to MOSAID or its management, including those identified by the
expressions "anticipate," "believe," "foresee," "estimate," "expect,"
"intend," "could," "may," "plan," "will," "would" and similar expressions.
Similarly, statements in this document that describe MOSAID's business
strategy, outlook, objectives, plans, intentions or goals also are
forward-looking statements. These forward-looking statements are not
historical facts, but rather reflect MOSAID's current expectations regarding
future events. These forward-looking statements are subject to a number of
risks and uncertainties that could cause actual results, performance or
achievements to differ materially from those in such forward-looking
statements. Assumptions made in preparing forward-looking statements and
financial guidance include, but are not limited to, the following: MOSAID's
continued expansion of its patent portfolio and of its opportunities for
future patent licensing revenue as a result of MOSAID's acquisition of patents
from third parties and from development of new inventions; DRAM manufacturers
continuing to infringe MOSAID's patents; the timing and amount of MOSAID's
litigation expenses; MOSAID's ability to sign new patent licensees; current
assumptions as to the identification of products that are unlicensed to
MOSAID's wireless patents; and the timing and amount of MOSAID's Research &
Development expenses.
    Factors that could cause actual results to differ materially from
expected results include, but are not limited to, the following: the extent of
embedded DRAM proliferation in the System-on-a-Chip markets; legal rulings
and/or regulatory investigations or complaints having an adverse impact on the
validity, enforceability, potential royalty rates, and strength or breadth of
coverage of MOSAID's essential and/or nonessential patents (including, but not
limited to, adverse results from litigation or proceedings in patent offices
and government regulatory agencies in various countries around the world);
judicial, legislative or regulatory changes that impair the ability of patent
holders to earn licensing revenues; economic, social, and political conditions
in the countries in which MOSAID or patent licensees operate, including
security risks, health conditions, possible disruptions in transportation
networks and fluctuations in foreign currency exchange rates; non-payment or
delays in payment by licensees; variability in patent licensees' sales of
licensed products, failure to maintain and enforce MOSAID's existing patent
portfolio, or failure to obtain valuable patents as a result of research and
development activities, or failure to acquire valuable patents from third
parties; MOSAID's ability to recruit and retain skilled personnel; change in
MOSAID's financial position; consolidation of MOSAID's licensees; natural
events, such as severe weather and earthquakes in the locations in which
MOSAID or patent licensees operate; and changes in the tax rate applicable to
MOSAID as the result of changes in the tax law in the jurisdictions in which
profits are determined to be earned and taxed, the outcome of tax audits and
the ability to realize deferred tax assets.
    MOSAID assumes no obligation to update or revise any forward-looking
statements. Additional information identifying risks and uncertainties
affecting MOSAID's business and other factors that could cause MOSAID's
financial results to fluctuate are contained in MOSAID's Annual Information
Form, under the section entitled "Risk Factors," and in MOSAID's other public
filings available online at www.sedar.com.
    %SEDAR: 00002240E




For further information:

For further information: Investor Inquiries: Michael Salter, Director,
Investor Relations and Corporate Communications, (613) 599-9539 x1205,
salter@mosaid.com; Media Inquiries: Colleen McGuire, Communications
Specialist, (613) 599-9539 x1228, mcguire@mosaid.com

Organization Profile

MOSAID TECHNOLOGIES INCORPORATED

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890