TSX-V SYMBOL: EX.A
CALGARY, Aug. 28 /CNW/ - Exceed Energy Inc. (the "Corporation" or
"Exceed") announced that it has filed with the TSX Venture Exchange (the
"Exchange"), a Notice of Intention to Make a Normal Course Issuer Bid which,
subject to receiving the necessary approval of the Exchange, shall commence on
September 2, 2008 and terminate on September 1, 2009, or the earlier of the
date on which all shares that are subject to the Normal Course Issuer Bid are
purchased. The Corporation purchased 425,500 of its Class "A" Common Shares
pursuant to a Normal Course Issuer Bid recently conducted by the Corporation,
for the period commenced August 10, 2007 and ended August 9, 2008.
In the opinion of the Board of Directors of Exceed, the market price of
the Class "A" Common Shares of Exceed does not accurately reflect the value of
those shares. As a result, Exceed's Class "A" Common Shares may become
available for purchase at prices which make them an appropriate use of funds
of the Corporation.
Exceed intends to attempt to acquire up to 2,063,375 of its Class "A"
Common Shares over the next 12-month period, representing approximately 5% of
its 41,267,507 issued and outstanding Class "A" Common Shares.
Purchases subject to this Normal Course Issuer Bid will be carried out
pursuant to open market transactions through the facilities of the Exchange by
Union Securities Ltd. on behalf of Exceed. All Common Shares purchased by
Exceed under the Normal Course Issuer Bid will be returned to treasury and
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.
For further information:
For further information: Richard Wolfli, Chief Executive Officer and
President, Exceed Energy Inc., (403) 508-1852, Facsimile: (403) 508-1781,