Cobra Venture Corporation

Cobra Venture Corporation

November 15, 2010 18:17 ET

Cobra Venture Announces Normal Course Issuer Bid

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 15, 2010) - Cobra Venture Corporation ("Cobra" or the "Corporation") (TSX VENTURE:CBV) announces that it has filed with the TSX Venture Exchange a Notice of Intention to Make a Normal Course Issuer Bid which shall commence on December 1, 2010 and terminate on November 30, 2011 or the earlier of the date all of the shares which are subject to the Normal Course Issuer Bid are purchased. 

In the opinion of the board of directors of Cobra, the market price of the common shares of the Corporation does not accurately reflect the value of those shares. As a result, Cobra's common shares may continue to become available for purchase at prices which make them an appropriate use of funds of the Corporation.

The Corporation intends to attempt to acquire up to an aggregate of 847,037 of its common shares over the next 12 month period representing approximately 5% of the issued and outstanding common shares of the Corporation. There were 17,440,748 common shares of the Corporation issued and outstanding as of November 12, 2010.

Purchases subject to this Normal Course Issuer Bid will be carried out pursuant to open market transactions through the facilities of the TSX Venture Exchange by McIver Wealth Management Consulting Group, Richardson GMP Limited on behalf of Cobra. All common shares of the Corporation purchased by Cobra under the Normal Course Issuer Bid will be returned to treasury and cancelled.

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

  • Cobra Venture Corporation
    Daniel B. Evans, President and CEO
    (604) 922-2030
    Canadian Toll Free: 1-888-888-9122
    US Toll Free: 1-888-888-9123