BAM Investments Corp.

BAM Investments Corp.

August 19, 2010 14:19 ET

(BNB-TSX) BAM Investments Announces Normal Course Issuer Bid

TORONTO, ONTARIO--(Marketwire - Aug. 19, 2010) - BAM Investments Corp. (the "company") (TSX:BNB) announced today that it has received approval from the Toronto Stock Exchange (the "Exchange") for its proposed normal course issuer bid to purchase up to 3,640,000 common shares (BNB), representing approximately 10% of the public float of its currently outstanding common shares. As of August 19, 2010, there were 79,206,910 common shares outstanding.

Purchases pursuant to the bid will be made through the facilities of the Exchange and all applicable exchanges in Canada. The period of the normal course issuer bid will be from August 23, 2010 to August 22, 2011, or such earlier date as BAM Investments may complete its purchases. The daily purchase limit pursuant to the bid will be 1,000 common shares. The price which the company will pay for any common shares purchased will be the market price of the common shares at the time of acquisition. Any common shares acquired by the company will be cancelled.

Under its current normal course issuer bid that commenced on August 23, 2009 and expires on August 22, 2010, BAM Investments had purchased 132,600 common shares as of August 19, 2010, all of which have been cancelled. The average daily traded volume for the company's common shares for the six months ended July 31, 2010 was 574.

BAM Investments believes that, from time to time, the repurchase of its common shares can represent an attractive investment opportunity and provides additional liquidity to its shareholders.

BAM Investments is a publicly-listed investment company whose principal business mandate is to provide its common shareholders with a leveraged investment in the common shares of Brookfield Asset Management Inc.

Edward C. Kress, President, will be available at 416-956-5140 to answer any questions on this issuer bid.

This news release contains "forward-looking information" within the meaning of Canadian provincial securities laws and regulations. The word "believes" and other expressions, including conditional verbs such as "will", "can" and "may" are predictions of or indicate future events, trends or prospects and which do not relate to historical matters identify forward-looking information. Forward-looking information in this news release includes statements with regards to potential future purchases by the company of its common shares pursuant to the company's normal course issuer bid.

Although the company believes that the anticipated future results or achievements expressed or implied by the forward-looking information and statements are based upon reasonable assumptions and expectations, the reader should not place undue reliance on the forward-looking information and statements because they involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company to differ materially from anticipated future results, performance or achievement expressed or implied by such forward-looking information and statements.

Factors that could cause actual results to differ materially from those contemplated or implied by the forward-looking information and statements include: the behavior of financial markets, including fluctuations in interest and exchange rates, availability of equity and debt financing and other risks and factors detailed from time to time in the company's other documents filed with the Canadian securities regulators. We caution that the foregoing list of important factors that may affect future results is not exhaustive. When relying on our forward-looking information to make decisions with respect to the company, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Except as may be required by law, the company undertakes no obligation to publicly update or revise any forward-looking information or statements, whether written or oral, that may be as a result of new information, future events or otherwise. Reference should be made to the company's most recent Annual Information Form for a description of the major risk factors.

Contact Information

  • BAM Investments Corp.
    Edward C. Kress