Ginger Beef Corporation
TSX VENTURE : GB

Ginger Beef Corporation

November 05, 2013 11:21 ET

Ginger Beef Corporation (Listed on the TSX Venture Exchange - Stock Symbol "GB") Announces Plans to Repurchase Common Shares

CALGARY, ALBERTA--(Marketwired - Nov. 5, 2013) - GB (the "Corporation" or "Ginger Beef") (TSX VENTURE:GB) 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 November 8, 2013 and terminate on November 7, 2014 or the earlier of the date all shares which are subject to the Normal Course Issuer Bid are purchased.

In the opinion of the Board of Directors of Ginger Beef, the market price of the Common Shares of Ginger Beef does not accurately reflect the value of those shares. As a result, the Corporation intends to repurchase Ginger Beef's Common Shares that may become available for purchase at prices, which make them an appropriate use of funds of the Corporation.

Ginger Beef intends to attempt to acquire up to an aggregate of 690,524 of its Common Shares over the next 12-month period, representing approximately 5% of the issued and outstanding Common Shares of Ginger Beef.

Purchases subject to the Normal Course Issuer Bid will be carried out pursuant to open market transactions through the facilities of the TSX Venture Exchange. The Member through which the Normal Course Issuer Bid will be conducted is Raymond James Ltd., Calgary, Alberta. All Common Shares purchased by Ginger Beef under the Normal Course Issuer Bid will be cancelled.

NEITHER THE 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

  • Ginger Beef Corporation
    Stanley Leung
    President and Chief Executive Office
    (403) 272-8088
    (403) 234-0688 (FAX)
    gingerbeef00@hotmail.com