EDMONTON, Aug. 13 /CNW/ - Imperial Equities Inc. (TSX-V:IEI) today
announced that it intends to make a Normal Course Issuer Bid through the
facilities of and in accordance to the by-laws and rules of the Toronto
Imperial Equities Inc. currently has 9,100,342 outstanding common shares.
The bid will allow Imperial to purchase up to 455,017 common shares,
representing 5% of those outstanding. The bid will commence August 24, 2009
and terminate August 23, 2010, or earlier if the bid is complete. Purchases
pursuant to the bid will be made through Blackmont Capital Inc.
Imperial's management team believes that the current share price does not
reflect the real value of the Company. "Imperial Equities shares have been
trading thinly and at values less than breakup, despite the fact that real
estate prices are at an all time high. It is cheaper to buy the stock that
holds the property than it is to buy property" said Sine Chadi, President and
CEO of Imperial Equities.
Imperial Equities Inc. will purchase the common shares for cancellation
which ultimately will result in increasing the proportionate interest of all
About Imperial Equities Inc.:
Imperial Equities Inc. is based in Edmonton, Alberta. A diversified
company anchored by commercial and industrial real estate properties in its
targeted Edmonton and Alberta markets. Imperial also distributes
pharmaceutical products to the institutional and retail customers through its
wholly owned subsidiary, Imperial Distributors Canada Inc. Additional
information is available at: www.imperialequities.com
Imperial's common shares are listed on the TSX Venture Exchange under the
The Toronto Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
For further information:
For further information: Editorial Contact: Sine Chadi, CEO, Imperial
Equities Inc., Phone: (780) 424-7227, email: email@example.com