Business
Backlog continues to grow at Omni-Lite
OML-TSX VENTURE CERRITOS, CA, Nov. 23 /CNW/ - Omni-Lite is pleased to announce that it has receiv...
About this update from Omni-lite Industries Canada Inc.
[{"type":"text","content":"\n\n\n\nOML-TSX VENTURE\n\n\nCERRITOS, CA, Nov. 23 /CNW/ - Omni-Lite is pleased to announce that it\nhas received several new orders in the Aerospace, Automotive and Sports and\nRecreation Divisions. The total value of these orders is approximately\n$265,000 US. These orders are in addition to those announced in a press\nrelease on October 16, 2007.\n\n\n"This brings the combined value of the orders received by the Company\nwithin the last fifteen weeks to approximately $3.4 million US. The Company\nnow has visibility over a significant portion of anticipated sales into 2008\nshown in the backlog as contracts or purchase orders. This represents a new\nmilestone for Omni-Lite," stated Paul Burkey, President and COO.\n\n\nOver the past 12 months the Company has repurchased, through the\nfacilities of the TSX Venture Exchange, 265,000 shares through a Normal Course\nIssuer bid. Omni-Lite Industries Canada Inc. has filed with the TSX Venture\nExchange its notice of intention to initiate a normal course issuer bid to\npurchase, on the open market through the facilities of the TSX Venture\nExchange, up to 545,000 common shares. This represents approximately 5 percent\nof 10,999,254 issued and outstanding shares. The bid is made to invest\ncorporate funds to the best advantage. Purchases pursuant to the bid will be\nconducted by Cormark Securities Inc. Purchases may begin on November 23, 2007,\nsubject to approval by regulatory authorities. The bid expires on November 22,\n2008.\n\n\nOmni-Lite is a rapidly growing high technology company that develops and\nmanufactures precision components utilized by 50 companies including Boeing,\nAirbus, Alcoa, Chrysler, the U.S. Military, Nike, adidas and Reebok.\n\n\nExcept for historical information contained herein this document contains\nforward-looking statements. These statements contain known and unknown risks\nand uncertainties that may cause the company's actual results or outcomes to\nbe materially different from those anticipated and discussed herein.\n\n\nTHE TSX-VENTURE EXCHANGE NEITHER APPROVES NOR DISAPPROVES OF THE\n\n\nINFORMATION CONTAINED HEREIN.\n\n\n","length":2196,"tagName":"div"}]