/NOT FOR DISSEMINATION IN THE UNITED STATES OR TO US PERSONS./
CALGARY, June 19, 2013 /CNW/ - Raimount Energy Inc. ("Raimount" or the
"Corporation"), TSXV: RMT announces that, the TSX Venture Exchange
("TSXV") has approved, the Corporation's intention to purchase certain
of its Common Shares by way of a normal course issuer bid (the "NCIB")
through the facilities of the TSXV. Raimount may purchase up to a
maximum of 221,131 Common Shares, which represents 5% of the
Corporation's current issued and outstanding Common Shares. Raimount
will commence open market purchases of its shares immediately upon the
approval of the NCIB by the TSXV on June 20, 2013 and terminate any
such purchases on or before June 19, 2014. The Corporation may purchase
up to, but not more than 2%, of its issued and outstanding Common
Shares in any 30 day period during the term of the NCIB. As of the
date of this news release, the Corporation has 4,422,633 Common Shares
issued and outstanding. Macquarie Private Wealth of Calgary, Alberta
has been appointed by Raimount as its broker to facilitate the open
market purchases of its shares pursuant to the NCIB. All purchases of
shares under the NCIB will be undertaken through the facilities of the
TSXV at the prevailing current market price of the shares of the
Corporation as traded on the TSXV.
Under the terms of its prior NCIB which expired on June 12, 2013,
Raimount purchased a total of 18,000 common shares at an average price
of $2.28 per share. Raimount is of the view that the current market
price of the Corporation's Common Shares remain undervalued.
Accordingly, Raimount believes that the repurchase of the shares
represents a sound business decision for the Corporation. All Common
Shares purchased under the NCIB will be returned to treasury and
cancelled. Shareholders of Raimount will be advised of the NCIB in the
next quarterly report of the Corporation to be mailed to Shareholders
and filed on SEDAR. Shareholders may obtain a copy of the Notice of
Intention to Make a Normal Course Issuer Bid from Raimount without
Neither the TSX Venture Exchange nor its Regulation Service Provider (as
that term is defined in policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
SOURCE: Raimount Energy Inc.
For further information:
please contact the following:
Raimount Energy Inc.
Gregory A. Vavra, President
403-265-6292 ext. 1