EDMONTON, Dec. 5, 2012 /CNW/ - Medwell Capital Corp. (the "Company")
(TSXV: MWC) announced today that it is conducting a normal course
issuer bid. Under the bid, which will be conducted pursuant to the
rules of the TSX Venture Exchange ("TSXV"), the Company may purchase up
to 363,500 of its common shares (the "Common Shares") representing
approximately 5% of the Company's issued and outstanding Common Shares.
The bid will commence December 10, 2012 and will expire December 9, 2013
or such earlier date as the Company may complete its purchases. The
price at which the Company will purchase its shares will be the market
price thereof at the time of acquisition. Purchases of Common Shares
will be made in the open market through the facilities of the TSXV. The
Company may purchase a maximum of 145,401 Common Shares in a given 30
day period. Common Shares acquired by the Company will be cancelled.
The Company has 7,270,089 Common Shares issued and outstanding as of
December 5, 2012. The Exchange Member conducting the bid on behalf of
the Company will be Raymond James Ltd.
The Board of Directors of the Company believes that the current market
price of the Common Shares may not fully reflect the value of the
Company's business and its future business prospects. As a result, the
Board has concluded that the purchase of the Common Shares may
represent an appropriate and desirable use of the Company's funds and
further enhance market stability.
About Medwell Capital Corp.
Medwell Capital Corp. is a Canadian-based investment and advisory firm.
For further information please visit www.medwellcapital.com.
Neither 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.
This press release may contain forward-looking statements, which reflect
the Company's current expectation regarding future events. These
forward-looking statements involve risks and uncertainties that may
cause actual results, events or developments to be materially different
from any future results, events or developments expressed or implied by
such forward-looking statements. Such factors include, but are not
limited to, changing market conditions, the successful and timely
completion of clinical studies, the establishment of corporate
alliances, the impact of competitive products and pricing, new product
development, uncertainties related to the regulatory approval process
and other risks detailed from time to time in the Corporation's ongoing
quarterly and annual reporting. We undertake no obligation to publicly
update or revise any forward-looking statements, whether as a result of
new information, future events or otherwise.
SOURCE: Medwell Capital Corp.
For further information:
Medwell Capital Corp.