C-COM Satellite Systems Inc.

C-COM Satellite Systems Inc.

November 08, 2011 13:11 ET

C-COM Provides Update on Normal Course Issuer Bid and Announces Grant of Stock Options

OTTAWA, ONTARIO--(Marketwire - Nov. 8, 2011) - C-COM Satellite Systems Inc. (TSX VENTURE:CMI) ("C-COM") one of the leading global providers of mobile auto-deploying satellite antenna systems, has today provided an update with respect to its normal course issuer bid originally announced in September of this year.

Pursuant to the bid, during the month of October 2011 C-COM purchased a total of 113,000 of its common shares through the facilities of the TSX Venture Exchange at a weighted average price of $0.518 per share.

The bid was announced by C-COM in September. It will consist of the purchase of up to 2,000,000 common shares, representing approximately 5.8% of the outstanding common shares of C-COM, and will terminate on September 14, 2012 or earlier if the number of shares sought in the bid have been obtained. C-COM reserves the right to terminate the bid earlier if it feels it is appropriate to do so. All shares acquired under the bid will be returned to treasury for cancellation.

C-COM also announces, pursuant to the requirements of the TSX Venture Exchange, that it has granted options to purchase 15,000 common shares of C-COM to an officer of C-COM. The stock options were granted pursuant to the terms of C-COM's stock option plan and are exercisable at $0.55 per share. This grant forms part of a total remuneration package. Stock option grants are subject to necessary regulatory approvals.

About C-COM Satellite Systems Inc.

C-COM Satellite Systems Inc. is a leader in the development and deployment of commercial grade mobile satellite-based technology for the delivery of two-way high-speed Internet, VoIP and Video services into vehicles. C-COM has developed a unique proprietary Mobile auto-deploying (iNetVu®) antenna that allows the delivery of high-speed satellite based Internet services into vehicles while stationary virtually anywhere where one can drive. The iNetVu® Mobile antennas have also been adapted to be airline checkable and easily transportable. The company's satellite-based products and services deliver high-quality, cost-effective solutions for both fixed and mobile applications throughout the world. More information is available at: www.c-comsat.com

iNetVu® is a registered trademark of C-COM Satellite Systems Inc.

Neither 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

  • Investor Relations
    C-COM Satellite Systems Inc.
    (613) 745-4110 ext. 4950
    (613) 745-1172 (FAX)