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Omni-Lite Industries announces Normal Course Issuer Bid
Omni-Lite Industries announces Normal Course Issuer Bid Omni-Lite Industries annou...
About this update from Omni-lite Industries Canada Inc.
[{"type":"text","content":"\n\n\n\nOmni-Lite Industries announces Normal Course Issuer Bid\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nOmni-Lite Industries announces Normal Course Issuer Bid\nCanada NewsWire\nCERRITOS, CA, May 19, 2016\n\n\n\nCERRITOS, CA, May 19, 2016 /CNW/ - Omni-Lite Industries Canada Inc. (\"Omni-Lite\" or the \"Company\") announces that it has submitted to the TSX Venture Exchange (\"TSXV) its Notice of Intention to Make a Normal Course Issuer Bid (\"Bid\").  Pursuant to the Bid, the Company may purchase for cancellation up to 790,000 common shares of the Company which is equal to approximately 7 percent of the 11,081,507 issued and outstanding shares.\n\nThe purchases will be made by the Company through Cormark Securities Inc., in accordance with the rules of the TSXV.  The consideration paid for any such Common Shares will be the open market price at the time of acquisition. The Company will make no purchases of Common Shares other than open market purchases or other such means approved by the TSXV.\n\nThe actual number of Common Shares of the Company that are purchased for cancellation under the Bid, if any, and the timing of such purchases will be determined by management as approved by the Board of Directors of the Company.\n\nTo the knowledge of the Company, no director, senior officer or other insider of Omni-Lite currently intends to sell any Common Shares into this Bid.  In the case a director, senior officer, or insider does sell any common shares into the Bid, the benefits to any such person would be the same as the benefits available to all other holders whose shares are purchased.\n\nTo date, the Company has repurchased and intends to cancel a total of 736,900 common shares pursuant to the previous normal course issuer bid which ends May 25, 2016.\n\nPurchases may begin on May 26, 2016 and the Bid expires on May 25, 2017. \n\nOmni-Lite Industries Canada Inc. is a rapidly growing high technology company that develops and manufactures precision components utilized by Fortune 500 companies including Boeing, Airbus, Bombardier, Embraer, Alcoa, Ford...