CERRITOS, CA, Feb. 11, 2016 /CNW/ - Omni-Lite Industries Canada Inc. (the "Company") (TSXV:OML) (OTCBB:OLNCF) is pleased to announce that it has received TSX Venture Exchange ("TSXV") approval for an amendment to the Normal Course Issuer Bid ("NCIB") that began on May 26, 2015. Pursuant to the amended NCIB, the Company will increase the maximum number of shares that may be repurchased, for cancellation, from 590,000 shares to 736,900 shares. No other terms of the NCIB have been amended.
During the period from May 26, 2015 to January 31, 2016, the Company has repurchased and cancelled 527,900 shares at a weighted average price of $1.56 per common share.
Omni-Lite Industries Canada Inc. is a rapidly growing high technology company that develops and manufactures precision components utilized by Fortune 500 companies including Boeing, Airbus, Bombardier, Embraer, Alcoa, Ford, Borg Warner, Chrysler, the U.S. Military, and Nike.
Except for historical information contained herein this document contains forward-looking statements. These statements contain known and unknown risks and uncertainties that may cause the Company's actual results or outcomes to be materially different from those anticipated and discussed herein.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Omni-Lite Industries Canada Inc.
For further information: Mr. Tim Wang, CFO, Tel. No. (562) 404-8510 or (800) 577-6664, Fax. No. (562) 926-6913, email: email@example.com, Website: www.omni-lite.com