OML-TSX VENTURE
CERRITOS, CA, Nov. 23 /CNW/ - Omni-Lite is pleased to announce that it has received several new orders in the Aerospace, Automotive and Sports and Recreation Divisions. The total value of these orders is approximately $265,000 US. These orders are in addition to those announced in a press release on October 16, 2007.
"This brings the combined value of the orders received by the Company within the last fifteen weeks to approximately $3.4 million US. The Company now has visibility over a significant portion of anticipated sales into 2008 shown in the backlog as contracts or purchase orders. This represents a new milestone for Omni-Lite," stated Paul Burkey, President and COO.
Over the past 12 months the Company has repurchased, through the facilities of the TSX Venture Exchange, 265,000 shares through a Normal Course Issuer bid. Omni-Lite Industries Canada Inc. has filed with the TSX Venture Exchange its notice of intention to initiate a normal course issuer bid to purchase, on the open market through the facilities of the TSX Venture Exchange, up to 545,000 common shares. This represents approximately 5 percent of 10,999,254 issued and outstanding shares. The bid is made to invest corporate funds to the best advantage. Purchases pursuant to the bid will be conducted by Cormark Securities Inc. Purchases may begin on November 23, 2007, subject to approval by regulatory authorities. The bid expires on November 22, 2008.
Omni-Lite is a rapidly growing high technology company that develops and manufactures precision components utilized by 50 companies including Boeing, Airbus, Alcoa, Chrysler, the U.S. Military, Nike, adidas and Reebok.
Except for historical information contained herein this document contains forward-looking statements. These statements contain known and unknown risks and uncertainties that may cause the company's actual results or outcomes to be materially different from those anticipated and discussed herein.
THE TSX-VENTURE EXCHANGE NEITHER APPROVES NOR DISAPPROVES OF THE
INFORMATION CONTAINED HEREIN.