PEORIA, AZ, May 5 /CNW/ - Antigua Enterprises Inc. (Pink Sheets: ANTGF)
(TSX: ANE) ("Antigua") advises that the TSX Venture Exchange ("TSX-V") has
accepted Antigua's Notice of Intention To Make A Normal Course Issuer Bid to
purchase some of its common shares through the facilities of the TSX-V. The
normal course issuer bid will commence May 15, 2006 and terminate not later
than May 14, 2007.
Antigua seeks to purchase for cancellation up to 2,100,000 common shares
at a price not to exceed Cdn$0.30 per common share over the course of the next
12 months, being 5% of its issued and outstanding common shares as of May 2,
2006. No more than 2% of the outstanding shares will be purchased in any
30-day period. As of May 2, 2006, Antigua had 42,839,185 common shares issued
and outstanding.
Antigua believes that the current trading prices of its common shares do
not reflect the underlying value of Antigua's assets and operations.
Accordingly, the commencement of a normal course issuer bid represents an
opportunity to create value for its shareholders.
The purchase of and payment for the common shares of Antigua purchased
pursuant to the normal course issuer bid will be made by Antigua in accordance
with the policies and rules of the TSX-V and the price which Antigua will pay
for any such common shares will be the market price of such common shares at
the time of acquisition. Antigua has retained Global Securities Corp. as its
broker to conduct the normal course issuer bid on behalf of Antigua.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this news release.
