Beaumont Select Corporations Inc.

June 22, 2009 16:30 ET

Beaumont Select Corporations Inc. to Continue With Normal Course Issuer Bid

CALGARY, ALBERTA--(Marketwire - June 22, 2009) - BEAUMONT SELECT CORPORATIONS INC. ("Beaumont") (TSX VENTURE:BMN.A) announced that it has filed with the TSX Venture Exchange a Notice of Intention to Make a Normal Course Issuer Bid which shall commence on July 2, 2009 and terminate on July 1, 2010 or the earlier of the date all shares which are subject to the Normal Course Issuer Bid are purchased. This Normal Course Issuer Bid follows the one Beaumont commenced on July 2, 2008 (and which expires on July 1, 2009) pursuant to which Beaumont purchased approximately 144,000 Class "A" shares as at June 10, 2009.

In the opinion of the board of directors of Beaumont, the market price of the Class "A" shares of Beaumont does not accurately reflect the value of those shares. As a result, Beaumont's Class "A" shares may continue to become available for purchase at prices which make them an appropriate use of funds of the company.

Beaumont intends to attempt to acquire up to an aggregate of 840,288 of its Class "A" shares over the next 12 month period representing 5% of the issued and outstanding Class "A" shares. There were 16,805,769 Class "A" shares of Beaumont issued and outstanding as of June 10, 2009.

Purchases subject to this Normal Course Issuer Bid will be carried out pursuant to open market transactions through the facilities of the TSX Venture Exchange by Blackmont Capital Inc. on behalf of Beaumont. Once purchased the Class "A" shares will be returned to treasury for cancellation.

Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of The TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Beaumont Select Corporations Inc.
    Winston Ho Fatt
    Chief Executive Officer and President
    (403) 250-8757