BAM Investments Corp.

BAM Investments Corp.

August 18, 2006 16:31 ET

BAM Investments Corp. Announces Normal Course Issuer Bid

TORONTO, ONTARIO--(CCNMatthews - Aug. 18, 2006) - BAM Investments Corp. (formerly BNN Investments Ltd.) (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 366,000 Common shares (BNB), representing approximately 10% of the public float of its currently outstanding Common shares. As of this date, there are 7,941,891 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, 2006 to August 22, 2007, 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, 2005 and expires on August 22, 2006, BAM Investments purchased 5,000 Common shares through open market purchases on the TSX at an average price per share of C$93.92.

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