Northfield Capital Corporation

Northfield Capital Corporation

January 22, 2008 13:41 ET

Northfield Capital Corporation Press Release

TORONTO, ONTARIO--(Marketwire - Jan. 22, 2008) - Northfield Capital Corporation (TSX VENTURE:NFD.A)("Northfield") announced today its intention to effect a normal course issuer bid through the facilities of the TSX Venture Exchange, subject to receipt of regulatory approval.

Upon receiving regulatory approval, Northfield may, during the 12 month period commencing January 29, 2008 and ending January 28, 2009, purchase on the TSX Venture Exchange up to 144,126 Class A restricted voting shares in total, representing approximately 5% of the Class A restricted voting shares currently issued and outstanding. The price which Northfield will pay for any such shares will be the market price at the time of acquisition. The actual number of Class A restricted voting shares which may be purchased and the timing of any such purchases will be determined by Northfield. Northfield has retained Jones Gable & Company Limited to effect purchases on its behalf pursuant to the bid.

Northfield is effecting the bid at this time as it believes that its Class A restricted voting shares are undervalued at their current market prices and that the purchase of Class A restricted voting shares would be a prudent use of funds.

Northfield previously repurchased for cancellation 16,600 Class A restricted voting shares at an average price of $22.46 per share pursuant to a normal course issuer bid that existed over a 12 month period expiring January 9 2008.

Northfield is an investment company with interests in the manufacturing and resource industries.

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

Contact Information

  • Northfield Capital Corporation
    Brent Peters
    Vice-President, Finance and Treasurer
    (416) 628-5902
    (416) 628-5911 (FAX)