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ENPAR Technologies Inc. to commence Normal Course Issuer Bid
TORONTO, April 23 /CNW/ - ENPAR Technologies Inc. (TSX-V: ENP) ("ENPAR" or the "Company") announc...
About this update from Current Water Technologies Inc
[{"type":"text","content":"\n\n\n\nTORONTO, April 23 /CNW/ - ENPAR Technologies Inc. (TSX-V: ENP) ("ENPAR"\nor the "Company") announced today that the TSX Venture Exchange (the\n"Exchange") has accepted a notice filed by the Company of its intention to\nmake a Normal Course Issuer Bid (the "Bid").\n\n\nThe notice provides that ENPAR may, during the 12 month period commencing\nApril 27, 2009 and ending April 26, 2010, purchase for cancellation up to\n2,704,600 of its common shares, representing approximately 5% of the issued\nand outstanding common shares of the Company. The price which ENPAR will pay\nfor any common shares under the Bid will be the market price at the time of\npurchase. The purchases will be made through the facilities of the TSX Venture\nExchange. The brokerage firm conducting the Bid on behalf of ENPAR is Foster &\nAssociates.\n\n\nThe Company is making the Bid as it is of the view that the Company's\ncommon shares have been trading at a range that does not adequately reflect\ntheir value in relation to the Company's financial performance and growth\nprospects. To the extent that the Company purchases for cancellation such\ncommon shares in accordance with the Bid, the holdings of remaining\nshareholders would represent an increased proportion of the common shares\noutstanding and, all other things remaining equal, are expected to result in\nan increased net asset value per common share.\n\n\nENPAR is a "Technology Company" applying its patented and proprietary\n"Electrochemical Technologies" to the treatment of waste water and drinking\nwater contaminated by metals or nutrients i.e., nitrate/ammonia associated\nwith the mining, metal processing, chemical, agricultural, municipal and waste\nmanagement sectors. The common shares trade on the TSX Venture Exchange under\nthe symbol "ENP".\n\n\nThe TSX Venture Exchange has not reviewed and does not accept\nresponsibility for the adequacy or accuracy of this release.\n\n\nThis news release contains forward-looking statements within the meaning\nof the "safe harbor" provisions of the Private Securities Litigation Reform\nAct of 1995. These forward-looking statements are subject to risks and\nuncertainties and other factors that may cause ENPAR Technologies Inc. results\nto differ materially from expectations. ...