Northampton Group Inc.

Northampton Group Inc.

November 25, 2008 18:53 ET

Northampton Announces Normal Course Issuer Bid

TORONTO, ONTARIO--(Marketwire - Nov. 25, 2008) - Northampton Group Inc. ("Northampton")(TSX VENTURE:NHG)(TSX VENTURE:NHG.DB) announces its intention to commence a normal course issuer bid to purchase its common shares from time to time in accordance with the policies of the TSX Venture Exchange ("TSXV"). The TSXV has accepted notice of Northampton's intention to commence a normal course issuer bid.

Pursuant to the notice filed with the TSXV, Northampton may purchase for cancellation up to 1,300,000 of its common shares (representing 4.98% of the 26,081,437 common shares outstanding as at November 24, 2008), during the 12 month period commencing December 1, 2008 and ending November 30, 2009.

The price that Northampton will pay for any common shares acquired under the normal course issuer bid will be the market price at the time of purchase or such other price as may be permitted by the TSXV. The purchases will be made through the facilities of the TSXV by Jones, Gable & Company Limited on behalf of Northampton.

Northampton believes that its common shares have traded in a price range which may not fully reflect the underlying value of such shares. As a result, depending upon future price movements and other factors, Northampton believes that the purchase for cancellation of its common shares may be an attractive and appropriate use of corporate funds in light of potential benefits to remaining shareholders.

About Northampton

Northampton Group Inc. is an integrated Canadian hotelier with ownership and management interests in 2,200 rooms in 17 hotels, with a selective strategic development program in place. Focused on creating the best return for all stakeholders, Northampton's proven, market-sensitive strategy is to acquire or build hotels that provide superior overnight accommodation in the mid-price market. Northampton has demonstrated that it excels in this sector, offering services that exceed expectations while still posting industry-leading margins.

The TSX Venture Exchange has neither approved nor disapproved the contents of this press release.

Contact Information

  • Northampton Group Inc.
    Vinod Patel
    President & CEO
    (905) 629-9992
    (905) 629-9636 (FAX)