Omni-Lite Industries Announces Normal Course Issuer Bid
May 21 2014 - 4:23PM
Access Wire
Omni-Lite Industries Canada Inc.
OML-TSX VENTURE
CERRITOS, CA / ACCESSWIRE / May 21, 2014 / Omni-Lite Industries
Canada Inc. ("Omni-Lite" or the "Company") announces that it has
received approval from the TSX Venture Exchange ("TSXV") of its
Notice of Intention to Make a Normal Course Issuer Bid
("Bid"). Pursuant to the Bid, the Company may repurchase for
cancellation up to 604,000 common shares of the Company which is
equal to approximately 5 percent of the 12,096,932 issued and
outstanding shares.
The purchases will be made by the Company through Cormark
Securities Inc. and in accordance with the rules of the TSXV.
The price which the Company will pay for any such Common Shares
will be the market price at the time of acquisition. The
Company will make purchases of Common Shares through the facilities
of the TSX Venture Exchange or through other recognized
marketplaces.
The actual number of Common Shares of the Company that are
purchased for cancellation under the Bid, and the timing of such
purchases will be determined by management. This Normal
Course Issuer Bid has been approved by the Board of Directors of
the Company.
To the knowledge of the Company, no director, senior officer or
other insider of Omni-Lite currently intends to sell any Common
Shares under this Bid. However, sales by such persons through
the facilities of the TSXV may occur if the personal circumstances
of any such person change or any such person makes a decision
unrelated to these normal course purchases. The benefits to
any such person whose shares are purchased would be the same as the
benefits available to all other holders whose shares are
purchased.
To date, the Company has repurchased and canceled a total of
156,500 common shares pursuant to the previous normal course issuer
bid which ends May 23, 2014.
Purchases may begin on May 26, 2014 and the Bid expires on May
25, 2015.
Omni-Lite is a rapidly growing high technology company that
develops and manufactures precision components utilized by several
Fortune 500 Companies including Boeing, Airbus, Alcoa, Ford,
Caterpillar, Borg Warner, Chrysler, the U.S. Military, Nike, and
adidas.
Except for historical information contained herein this
document contains forward-looking statements. These statements
contain known and unknown risks and uncertainties that may cause
the Company's actual results or outcomes to be materially
different from those anticipated and discussed herein.
Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
For further information, please contact:
Mr. Tim Wang, CFO
Tel. No. (562) 404-8510 or (800) 577-6664 (Canada and
USA)
Fax. No. (562) 926-6913, email: info@omni-lite.com
Website: www.omni-lite.com
SOURCE: Omni-Lite Industries Canada
Inc.
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