Grand Power Logistics Group Inc.
TSX VENTURE : GPW

Grand Power Logistics Group Inc.

December 08, 2014 09:00 ET

Grand Power Logistics Group Inc. Announces Plans to Repurchase Common Shares

CALGARY, ALBERTA--(Marketwired - Dec. 8, 2014) - Grand Power Logistics Group Inc. (the "Corporation" or "Grand Power") (TSX VENTURE:GPW) 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 8, 2014 and terminate on December 7, 2015 or the earlier of the date that all shares which are subject to the Normal Course Issuer Bid are purchased.

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

Grand Power intends to attempt to acquire up to an aggregate of 3,773,000 of its Common Shares over the next 12-month period, representing approximately 5% of the issued and outstanding Common Shares of Grand Power.

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 Wolverton Securities, Calgary, Alberta. All Common Shares purchased by Grand Power 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.

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