iMarketing Solutions Group Inc.

iMarketing Solutions Group Inc.

December 08, 2010 19:57 ET

iMarketing Solutions Group Inc. (Formerly Xentel DM Incorporated) Announces Normal Course Issuer Bid

CALGARY, ALBERTA--(Marketwire - Dec. 8, 2010) - iMarketing Solutions Group Inc. (the "Corporation" or "iMarketing") (formerly Xentel DM Incorporated) (TSX VENTURE:XDM), a North American specialty entertainment and relationship marketing company, announces it has filed a notice of intention with the TSX Venture Exchange (the "Exchange") relating to the repurchase by the Corporation of certain of its issued and outstanding common shares (the "Common Shares") pursuant to a normal course issuer bid (the "NCIB") undertaken in accordance with the rules and policies of the Exchange. All purchases of Common Shares will be effected through the facilities of the Exchange and all Common Shares purchased will be cancelled.

Currently, there are 33,387,909 Common Shares issued and outstanding. In connection with the NCIB, the Corporation may purchase up to 1,669,395 Common Shares (or 5% of the total number of Common Shares currently outstanding) until December 13, 2011, subject to the rules and requirements of the Exchange. The Common Share purchases will be made through Acumen Capital Finance Partners Limited. The Corporation has previously purchased 176,000 Common Shares pursuant to a normal course issuer bid between December 1, 2009 and December 31, 2009 at an average purchase price of $0.250.

The Common Shares may become available for purchase at prices which make them an attractive investment and an appropriate use of the Corporation's funds. It is anticipated that the purchase of Common Shares will benefit the remaining shareholders by increasing their equity interest in the Corporation's assets.

A copy of the Exchange Form 5G – Notice of Intention to Make a Normal Course Issuer Bid, which was submitted to the Exchange, will be made available to shareholders of the Corporation, on request, by contacting any of the Canadian corporate offices of the Corporation listed above.

iMarketing is one of North America's leading relationship-marketing concerns and producers of cause related entertainment events. The Corporation's success is attributable to proprietary sales tools including technologically advanced teleservices and sophisticated customer databases. The Corporation has over 400 clients and 1,900 employees in over 25 offices across North America.

Certain statements in this press release may constitute "forward looking statements" and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Corporation to be materially different from any performance or achievement expressed or implied by such "forward looking statements".

The Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • iMarketing Solutions Group Inc.
    Caren Holtby
    Investor Relations
    416-633-4643 (FAX)