Business
Great Canadian Gaming announces renewal of normal course issuer bid
RICHMOND, BC , Jan. 27, 2014 /CNW/ - Great Canadian Gaming Corporation [TSX:GC] ("Grea...
About this update from Goldcana Resources Inc.
[{"type":"text","content":"\n\n\nRICHMOND, BC, Jan. 27, 2014 /CNW/ - Great Canadian Gaming Corporation [TSX:GC] (\"Great Canadian\" or \"the Company\") announced today its intention to\n renew a normal course issuer bid for up to 4,231,075 of its common\n shares, representing approximately 10% of the Company's common shares\n in the public float.  Purchases will be made subject to opportunities\n within the market.\n\n\nAs at January 20, 2013, there were 67,353,083 common shares of the\n Company outstanding.  Purchases will be by way of open market purchases\n through the facilities of the Toronto Stock Exchange (\"TSX\"), and other\n Canadian market places, and payment for the shares will be in\n accordance with the TSX's rules.  No purchases will be made other than\n by means of open market transactions during the term of the normal\n course issuer bid and conducted at the market price at the time of\n acquisition.  All shares purchased by the Company will be subsequently\n cancelled.  The Company believes that this normal course issuer bid\n will assist in managing its balance of debt and equity for the purpose\n of increasing long-term shareholder value.\n\n\n\"With Great Canadian's secure and flexible financial position, this\n share repurchase program is an important tool for improving shareholder\n value,\" stated Rod Baker, Great Canadian's President and Chief\n Executive Officer.  \"The normal course issuer bid will be employed\n opportunistically, while considering the Company's future cash needs\n for operating and development purposes.\"\n\n\nThe Company received approval from the TSX to commence this bid on\n January 30, 2014.  The bid will end on January 29, 2015 or earlier if\n the number of shares sought in the issuer bid have been obtained.  The\n Company will not purchase shares during its self-imposed blackout\n periods and reserves the right to terminate the bid earlier if it feels\n it is appropriate to do so.  Pursuant to TSX policies, daily purchases\n made by the Company will not exceed 17,799 common shares or 25% of the\n prior six-month average daily trading volume of 71,194 common shares on\n the TSX, subject to certain prescribed exceptions.\n\n\nIn the event that insiders intend to sell securities of the Company\n during the course of the bid, the Company will not purchase such\n se...