Coretec Inc.

Coretec Inc.

November 03, 2006 16:00 ET

Coretec Announces Normal Course Issuer Bid

TORONTO, ONTARIO--(CCNMatthews - Nov. 3, 2006) - Coretec Inc. ("Coretec")(TSX:CYY) announced today that it has filed with the Toronto Stock Exchange (the "TSX") a notice of intention to make a normal course issuer bid for its common shares ("Common Shares") through the facilities of the TSX. Coretec does not intend to purchase more than 372,791 Common Shares (or 2% of the issued and outstanding Common Shares) over a 12 month period which is less than 5% of the issued and outstanding Common Shares or 10% of the public float. The period of the normal course issuer bid will commence on November 7, 2006 and will terminate on the earlier of: (i) November 6, 2007 and (ii) the date on which a total of 372,791 Common Shares (or 2% of the issued and outstanding Common Shares) have been purchased by Coretec. Purchases under the bid will be made through the facilities of the TSX at the prevailing market price. All Common Shares purchased under this bid will be cancelled. As at October 31, 2006, Coretec had 18,639,553 Common Shares outstanding, approximately 6,419,547 of which were in the public float.

Coretec believes that, from time to time, the market price of its common shares may not fully reflect the value of its business and future business prospects and accordingly, may represent an attractive investment and a desirable use of its available funds.

Coretec is one of the leading designers and fabricators of printed circuit boards for the prototype and quick turnaround production segments of the North American and European markets. Coretec distinguishes itself from its competitors by providing complete printed circuit board solutions, including highly engineered design, advanced prototyping and quick turnaround production.

Contact Information