CALGARY, Sept. 29 /CNW/ - Further to its News Release dated September 17,
2008, Stealth Ventures Ltd. (TSX-V: SLV) ("Stealth") announces that it has
received acceptance from the TSX Venture Exchange in respect of its intention
to make a Normal Course Issuer Bid (the "Bid") pursuant to the provisions of
TSX Venture Exchange Policy 5.6.
The Bid will consist of the acquisition by Stealth of up to 6,504,000
common shares of its capital stock, representing 10% of the "public float" of
65,049,451 common shares upon the proposed date of commencement of the Bid.
(There are currently 91,681,543 common shares of Stealth issued and
outstanding.) The Bid commence on October 2, 2008, and terminate on October 1,
2009. All shares acquired under the Bid will be returned to treasury for
Stealth is making the Bid because it is of the opinion that fluctuating
global market conditions periodically (and currently) result in unwarranted
reductions in Stealth's share price that do not reflect the underlying value
of its net asset value. Stealth will utilize unallocated cash resources to
effect purchases under the Bid with a view to capitalizing on these short-term
price weaknesses. Share purchases under the Bid will be made at Management's
discretion based on market conditions. (Stealth has not at any time purchased
any of the securities that will be the subject of the Bid)
The Bid will be conducted on behalf of Stealth by Union Securities Ltd.,
of Suite 900 - 700 West Georgia Street, Vancouver, B.C.
All information regarding Stealth is available at www.sedar.com or at its
website www.stealthventures.ca. Stealth Ventures Ltd. is a Calgary-based
junior oil and gas company whose expertise and focus is on "unconventional"
gas reserves from shale gas, CBM and tight gas sand reservoirs.
STEALTH VENTURES LTD.
Per: DEREK KRIVAK
Chief Executive Officer
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. THIS NEWS
RELEASE MAY CONTAIN FORWARD-LOOKING INFORMATION. ACTUAL FUTURE RESULTS
MAY DIFFER MATERIALLY FROM THOSE CONTEMPLATED.
For further information:
For further information: Derek Krivak, CEO, Mark J. Roth, CFO, Stealth
Ventures Ltd., Tel.: (403) 514-9998, Fax: (403) 514-9995, Emails:
email@example.com; Richard Cohen, Investor Relations, CLARK
AVENUE COMPANY, Tel.: (905) 882-4422, Fax: (905) 882-4435,