BAM Investments Corp.
TSX : BNB

BAM Investments Corp.

August 21, 2007 13:19 ET

BAM Investments Announces Normal Course Issuer Bid

TORONTO, ONTARIO--(Marketwire - Aug. 21, 2007) - BAM Investments Corp. (TSX:BNB) announced today that it has received approval from the Toronto Stock Exchange for its proposed normal course issuer bid to purchase up to 3,670,000 Common shares (BNB), representing approximately 10% of the public float of its currently outstanding Common shares. As of this date, there are 79,418,910 Common shares outstanding.

Purchases pursuant to the bid will be made through the facilities of the Exchange. The period of the normal course issuer bid will be from August 23, 2007 to August 22, 2008, or such earlier date as BAM Investments may complete its purchases. The price which the company will pay for any Common shares purchased through the facilities of the TSX 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, 2006 and expires on August 22, 2007, BAM Investments has not to date purchased any Common shares. The average daily traded volume for the company's Common shares for the six months ended July 31, 2007 was 2,044, adjusted to reflect the 10-for-one stock split completed on May 31, 2007.

BAM Investments believes that, from time to time, the repurchase of its Common shares can represent an attractive investment opportunity and provide 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.

Brian D. Lawson, President and Chief Executive Officer, will be available at 416-359-8620 to answer any questions on this issuer bid.

This news release contains forward-looking statements concerning the company's business and operations. The company cautions that, by their nature, forward-looking statements involve risk and uncertainty and the company's actual results could differ materially from those expressed or implied in such statements. Reference should be made to the most recent Annual Information Form for a description of the major risk factors.

Contact Information

  • BAM Investments Corp.
    Brian D. Lawson
    President and Chief Executive Officer
    (416) 359-8620