TORONTO, Sept. 29, 2011 /CNW/ - Further to the press release dated
August 15, 2011 announcing the commencement of a normal course issuer
bid ("NCIB"), Neo Material Technologies Inc. ("Neo" or the "Company")
(TSX: NEM) announced today that it has entered into a pre-defined plan
(the "Automatic Purchase Plan") with its designated broker to allow for
the repurchase of shares at times throughout its NCIB when Neo would
ordinarily not be permitted to repurchase shares in the market due to
its own internal trading blackout periods, insider trading rules or
otherwise. Subject to certain parameters and restrictions, Neo's
broker may repurchase shares under the Automatic Purchase Plan during
the times referred to above, provided that the broker is not, at such
times, in possession of undisclosed material information about the
Company. The Automatic Purchase Plan is effective beginning October 1,
2011 through November 11, 2011.
From the commencement of the NCIB to September 28, 2011, NEM has
acquired 2,591,200 common shares in total, which after cancellation
will leave 117,385,148 common shares outstanding.
Forward Looking Statements
From time to time, the Company may publish forward-looking statements
relating to such matters as expected financial performance, business
prospects, technological developments, and development activities and
like matters. These statements involve risk and uncertainties,
including but not limited to the risk factors previously described.
Actual results could differ materially from those projected as a result
of these risks and should not be relied upon as a prediction of future
events. Neo Material Technologies Inc. undertakes no obligation to
update any forward-looking statement to reflect events or circumstances
after the date on which such statement is made, or to reflect the
occurrence of unanticipated events.
About Neo Material Technologies
Neo Material Technologies Inc. is a producer, processor and developer of
neodymium-iron-boron magnetic powders, rare earths and zirconium based
engineered materials and applications, and other rare metals and their
compounds through its Magnequench and Performance Materials divisions.
These innovative products are essential in many of today's high
technology products. Magnequench's Neo Powders are used to produce
bonded magnets, generally used in micro motors, precision motors,
sensors and other applications requiring high levels of magnetic
strength, flexibility, small size and reduced weight. Rare earth and
zirconium applications include catalytic converters, computers,
television display panels, optical lenses, mobile phones and electronic
chips. The Company's rare metals products are primarily used in the
wireless, LED, flat panel, turbine, solar and catalyst industries. The
Company is headquartered in Toronto, Canada.
SOURCE Neo Material Technologies Inc.
For further information: