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Spyglass Resources Corp. Announces Approval of a Normal Course Issuer Bid by the Toronto Stock Exchange
Spyglass Resources Corp. Announces Approval of a Normal Course Issuer Bid by the Toronto Stock Exchange.
About this update from Spyglass Resources Corp
[{"type":"text","content":"\n \n \n Spyglass Resources Corp. Announces Approval of a Normal Course Issuer Bid by the Toronto Stock Exchange\n \n \nSpyglass Resources Corp. Announces Approval of a Normal Course Issuer Bid by the Toronto Stock Exchange\n \n CALGARY, ALBERTA--(Marketwired - Dec 18, 2014) - Spyglass Resources Corp. (\"Spyglass\", or the \"Company\") (TSX:SGL)(OTCQX:SGLRF) announced today that the Toronto Stock Exchange (the \"TSX\") has approved the Company's notice of intention to make a normal course issuer bid (the \"Bid\"). Under the terms of the Bid, Spyglass may acquire up to 12,460,689 of its common shares (\"Common Shares\") from time to time in accordance with the normal course issuer bid procedures of the TSX, representing approximately 10% of the public float (as that term is defined in the policies of the TSX) as of December 18, 2014. \n Repurchases under the Bid may commence on December 22, 2014 and will terminate on December 21, 2015 or on such earlier date as the Bid is complete. Purchases of Common Shares will be made through the facilities of the TSX and other alternative trading platforms. Daily purchases will be limited to 78,295 Common Shares, other than block purchase exemptions, being 25% of the daily average trading volume of the Common Shares on the TSX, being 313,182 Common Shares, from June 1, 2014 to November 30, 2014. The price that the Corporation may pay for any Common Shares purchased under the Bid will be the prevailing market price at the time of purchase and any Common Shares purchased by the Corporation will be cancelled. \n The Board of Directors of Spyglass believes that, from time to time, the underlying value of the Corporation may not be reflected in the market price of the Common Shares.\n As of December 18, 2014, there were 128,076,720 Common Shares issued and outstanding. The 12,460,689 Common Shares that may be repurchased under the Bid represent 10% of the public float and approximately 9.7% of the issued and outstanding Common Shares on December 18, 2014.\n Reader Advisory and Note Regarding Forward-Looking Information\n Certain statements contained within this press release, and in certain documents incorporated by reference into this document constitute forward looking statements. These statements relate to future events or future performance. All statements, other than statements of historical ...