Afexa Life Sciences Inc.

Afexa Life Sciences Inc.

October 14, 2008 09:07 ET

CV Technologies Announces Normal Course Issuer Bid

EDMONTON, ALBERTA--(Marketwire - Oct. 14, 2008) - CV Technologies Inc. (TSX:CVQ) CV Technologies Inc. (the "Company") is pleased to announce that the Toronto Stock Exchange (the "TSX") has accepted the Company's notice of intention to make a normal course issuer bid for its common shares. CV Technologies Inc. believes that the current market price of its common shares does not accurately reflect their underlying value making the common shares an attractive investment and an advantageous use of the Company's funds. CV Technologies Inc. expects that the purchase of common shares will benefit the remaining shareholders of the Company by increasing their proportionate equity interest in CV Technologies Inc.

On September 30, 2008, there were 107,723,498 common shares outstanding. Under the normal course issuer bid, CV Technologies Inc. may acquire up to 5,386,175 common shares, which is 5% of the total issued and outstanding common shares. All purchases of common shares will be made through the facilities of the TSX at the market price of the shares at the time of acquisition. Daily repurchases by CV Technologies Inc. will be limited to a maximum of 20,235 common shares, other than block purchase exceptions, based on an average daily trading volume for the last six calendar months of 80,941 common shares. Any shares acquired by CV Technologies Inc. will be cancelled.

The normal course issuer bid will commence on October 16, 2008 and will terminate on October 15, 2009 or such earlier time as the bid is completed or terminated at the option of CV Technologies Inc.


CV Technologies, founded in 1992, strives to transform people's lives to be healthier and happier by focusing on prevention and recovery through the use of evidence-based naturally-derived health products. The Company's lead product COLD-FX® strengthens the immune system and is widely used as a leading over the counter (OTC) remedy for helping to prevent and relieve cold and flu infections. COLD-FX continues to rank as the number one selling cold and flu remedy in Canada (ACNielsen's MarketTrack Drug Service for Cold Remedies, Natural Supplements & Vitamins Categories for the 52 week period ending July 5, 2008).

Forward Looking Information

This news release contains certain forward-looking information within the meaning of applicable securities laws. The forward-looking information included in this document does not guarantee future performance and should not be unduly relied upon. Such information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information including, without limitation, those comments relating to the Company's intent to repurchase shares under a Normal Course Issuer Bid. The Company believes that the expectations and assumptions reflected in the forward-looking information contained herein are reasonable but no assurance can be given that these expectations and assumptions are correct or that any benefits may be derived from them. All forward-looking information is expressly qualified in its entirety by this cautionary statement. The Company assumes no duty to update or revise forward-looking information, except as may be required pursuant to applicable laws. The Company is a 12g3-2(b) SEC registrant.

Contact Information