Park Lawn Corporation

Park Lawn Corporation

January 25, 2011 14:59 ET

Park Lawn Corporation Announces Normal Course Issuer Bid

TORONTO, ONTARIO--(Marketwire - Jan. 25, 2011) - Park Lawn Corporation ("Park Lawn") (TSX VENTURE:PLC) announced today that it has received regulatory approval to make a normal course issuer bid to purchase its shares for a one year period. Park Lawn's normal course issuer bid will expire on January 23, 2012.

As approved by the TSX Venture Exchange, during the period January 24, 2011 to January 23, 2012, Park Lawn is authorized to purchase 175,275 shares representing 5% of the issued and outstanding 3,505,510 shares. Park Lawn is undertaking the normal course issuer bid at this time as its directors and management continue to believe that Park Lawn's value is not adequately reflected in its current price.

The purchase and payment for the shares of Park Lawn will be made in accordance with the requirements of the TSX Venture Exchange. Any purchases will be made by Park Lawn at the prevailing market prices of the shares at the time of purchase. All shares purchased will be cancelled. The actual number of shares purchased, timing of purchases and the price at which the shares are bought will depend upon future market conditions and potential alternative uses for Park Lawn's cash resources.

The member Park Lawn will be using is Research Capital Corporation, 199 Bay Street, Suite 4500, Commerce Court West, Toronto, Ontario M5L 1G2 (Telephone: (416) 860-7639).

Park Lawn Corporation was formed on the conversion of Park Lawn Income Trust pursuant to a plan of arrangement under the Business Corporations Act (Ontario). Park Lawn Corporation indirectly owns six cemeteries in the Greater Toronto Area and an interest in Bloorpark Developments Inc. Its shares are listed on the TSX Venture Exchange.

Neither 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

  • Park Lawn Corporation
    Larry Boland
    Chief Financial Officer