McCoy Corporation
TSX : MCB

McCoy Corporation

October 01, 2009 15:00 ET

McCoy Corporation Announces Renewal of Normal Course Issuer Bid

EDMONTON, ALBERTA--(Marketwire - Oct. 1, 2009) - McCoy Corporation ("McCoy" or "the Corporation") (TSX:MCB) today announced that it has filed notice with the Toronto Stock Exchange to make a Normal Course Issuer Bid (the "Bid") to purchase through the facilities of the exchange, from time to time as it considers advisable, up to 1,323,796 of the issued and outstanding common shares (being approximately 5% of the 26,475,912 common shares outstanding at September 24, 2009). The maximum number of common shares that may be purchased on a daily basis is 7,101, which is equal to 25% of the average daily trading volume for the six months ended September 30, 2009.

The Bid may commence on October 5, 2009 and will continue until the earlier of October 4, 2010 or the date by which the Corporation has acquired the maximum number of common shares which may be purchased under the Bid. Purchases will be made through the facilities of the Toronto Stock Exchange and the price at which the Corporation may purchase its common shares will be the market price of the common shares at the time of purchase.

The Corporation has appointed Research Capital Corporation as its broker to conduct Normal Course Issuer Bid transactions. Common shares purchased by the Corporation will be returned to treasury for cancellation. During the preceding twelve months, the Corporation repurchased 1,154,400 of its common shares at an average price of $1.27 per common share under the previous Normal Course Issuer Bid.

Management of the Corporation believes that from time to time, the market price of the common shares may not reflect their underlying value and that, at such times, the purchase of common shares for cancellation will increase the proportionate interest of, and be advantageous to, all remaining shareholders.

About McCoy Corporation

Established in 1914, McCoy Corporation provides advanced products and services for the global energy industry. McCoy Corporation is comprised of three main operating segments: Energy Products & Services, Trailer Manufacturing and Truck & Trailer Products & Services.

Forward-Looking Information

This news release and the website referenced therein may contain forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions is intended to identify forward-looking information or statements. By its nature, such forward-looking information is subject to various risks and uncertainties, which could cause McCoy's actual results and experience to differ materially from the anticipated results or expectations expressed. Readers are cautioned not to place undue reliance on forward-looking information that may be contained herein, which is given as of the date it is expressed in this news release or otherwise, and not to use future-oriented information or financial outlooks for anything other than their intended purpose. McCoy undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.

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