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Fairmount Energy Inc. announces change to normal course issuer bid
CALGARY, Oct. 30 /CNW/ - Fairmount Energy Inc. ("Fairmount") (FMT - TSX Venture Exchange) announc...
About this update from Fuerte Metals Corporation
[{"type":"text","content":"\n\n\n\nCALGARY, Oct. 30 /CNW/ - Fairmount Energy Inc. ("Fairmount") (FMT - TSX\nVenture Exchange) announces that it has requested and received a modification\nto the terms of its Normal Course Issuer Bid from the TSX Venture Exchange in\naccordance with the normal course issuer bid procedures under Canadian\nsecurities laws.\n\n\nPursuant to the TSX Venture Exchange rules, Fairmount was previously\nlimited to purchasing for cancellation up to 344,877 of its common shares in\nany 30 day period and 1,392,955 of its common shares in the one year period\nending March 20, 2009. Fairmount applied and received approval to remove this\n30 day period limitation from the TSX Venture Exchange.\n\n\nUnder the terms of Fairmount's Normal Course Issuer Bid, Fairmount may\npurchase for cancellation up to a maximum of 874,955 of its common shares in\nthe 141 day period ending March 20, 2009. Fairmount has previously purchased\nfor cancellation 518,000 common shares under the Normal Course Issuer Bid\nsince it was first approved on March 20, 2008. The price which Fairmount will\npay for any shares under the normal course issuer bid will be the market price\nat the time of purchase. The purchases will be made on the open market through\nthe TSX Venture Exchange. The brokerage firm conducting the normal course\nissuer bid on behalf of Fairmount is Peters & Co. Limited.\n\n\nFairmount believes that the purchases of its common shares at recent\nmarket prices is a worthwhile investment since recent market prices of its\nshares do not properly reflect the underlying value of its assets and\nbusiness. To the extent that Fairmount purchases for cancellation such shares\nin accordance with the normal course issuer bid, the holdings of the remaining\nshareholders would represent an increased proportion of the shares outstanding\nand, all other things remaining equal, are expected to result in an increased\nnet asset value per share.\n\n\nFairmount currently has 16,725,889 Common Shares outstanding.\n\n\nThe TSX Venture Exchange has not reviewed and does not accept\nresponsibility for the adequacy or accuracy of this release.\n\n\n","length":2227,"tagName":"div"}]