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Fairmount Energy Inc. files for normal course issuer bid
CALGARY, March 19 /CNW/ - Fairmount Energy Inc. ("Fairmount") (FMT - TSX Venture Exchange) announ...
About this update from Fuerte Metals Corporation
[{"type":"text","content":"\n\n\n\nCALGARY, March 19 /CNW/ - Fairmount Energy Inc. ("Fairmount") (FMT - TSX\nVenture Exchange) announces that it has filed with the TSX Venture Exchange a\nNotice of Intention to purchase its common shares from time to time in\naccordance with the normal course issuer bid procedures under Canadian\nsecurities laws.\n\n\nPursuant to the issuer bid, Fairmount may purchase for cancellation up to\n1,392,955 of its common shares, representing 10% of the outstanding public\nfloat of Fairmount, during the 12-month period commencing March 20, 2008. The\nprice which Fairmount will pay for any shares under the normal course issuer\nbid will be the market price at the time of purchase. The purchases will be\nmade on the open market through the TSX Venture Exchange. The brokerage firm\nconducting the normal course issuer bid on behalf of Fairmount is Peters & Co.\nLimited.\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\nThe TSX Venture Exchange has not reviewed and does not accept\n\n\nresponsibility for the adequacy or accuracy of this release. The news\n\n\nrelease may contain forward-looking information. Actual future results\n\n\nmay differ materially from those contemplated.\n\n\n","length":1784,"tagName":"div"}]