Humboldt Capital Corporation
TSX VENTURE : HMB

Humboldt Capital Corporation

August 04, 2005 09:30 ET

Humboldt Announces Normal Course Issuer Bid

CALGARY, ALBERTA--(CCNMatthews - Aug. 4, 2005) - Humboldt Capital Corporation (TSX VENTURE:HMB) announced today that it has received approval from the TSX Venture Exchange (the "Exchange") to make a Normal Course Issuer Bid (the "Bid") to purchase for cancellation, from time to time, as it considers advisable, up to 616,500 of the issued and outstanding Common Shares (being approximately 5% of the 12,330,295 Common Shares outstanding at July 18, 2005). Purchases will be made on the open market through the facilities of the Exchange. CIBC Wood Gundy will conduct the Bid on behalf of Humboldt. The price which Humboldt will pay for any shares purchased by it will be the prevailing market price of such shares on the Exchange at the time of such purchase.

Pursuant to Normal Course Issuer Bids, during the previous 12 months, Humboldt purchased and cancelled 42,900 Common Shares at an average price of $2.24 per share.

The Bid will commence on August 9, 2005 and will terminate on August 8, 2006, or such earlier time as the applicable Bid is completed or at the option of Humboldt.

The Board of Directors of Humboldt believe that the current and recent market prices of Humboldt's shares do not give full effect to their underlying value and that, accordingly, the purchase of shares will increase the proportionate share interest of, and be advantageous to, all remaining shareholders. The normal course purchases will also afford an increased degree of liquidity to Humboldt shareholders who would like to dispose of their shares.

Forward-looking statements - statements included in this press release that are not historical facts may be considered "forward-looking statements." All estimates and statements that describe the Company's objectives, goals or future plans are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties where actual results could differ materially from those currently anticipated.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Humboldt Capital Corporation
    R.W. Lamond
    Chairman of the Board
    (403) 269-9889
    (403) 269-9890 (FAX)
    or
    Humboldt Capital Corporation
    C.A. (Tony) Teare
    Executive Vice President
    (403) 269-9889
    (403) 269-9890 (FAX)
    or
    Humboldt Capital Corporation
    #1800, 633 Sixth Avenue S.W.
    Calgary, Alberta
    T2P 2Y5 Canada