Royal Laser Corp.
TSX : RLC

Royal Laser Corp.

November 07, 2006 08:51 ET

Royal Laser Corp. Announces Share Buyback of Up to 10% of Float in a Normal Course Issuer Bid

TORONTO, ONTARIO--(CCNMatthews - Nov. 7, 2006) - Royal Laser Corp. (TSX:RLC) (the "Corporation") today announced that it intends to purchase for cancellation up to 6,817,140 of its common shares by way of a normal course issuer bid through the facilities of the Toronto Stock Exchange. The 6,817,140 shares represent approximately 10% of the public float of common shares of the Corporation.

The purchases may commence on November 9, 2006, and will terminate on November 8, 2007, or on such earlier date as the Corporation may complete its purchases pursuant to a notice of intention to be filed with the Toronto Stock Exchange or provide notice of termination. Any such purchases will be made by the Corporation at the prevailing market price at the time of such purchases in accordance with the requirements of the Toronto Stock Exchange.

The Corporation believes that the common shares are undervalued at current market prices based on the Corporation's earnings and future prospects and that the repurchase of common shares at current market prices is an appropriate use of corporate funds and should benefit shareholders.

To the knowledge of the Corporation, no director, senior officer or other insider of the Corporation intends at present to sell any common shares under this bid. However, sales by such persons through the facilities of the Toronto Stock Exchange or elsewhere may occur if the circumstances or decisions of any such person change. The benefits to any such person whose common shares are purchased would be the same as the benefits available to all other holders whose common shares are purchased.

About Royal Laser Corp.

Royal Laser Corp., through its wholly-owned operating subsidiaries, manufactures custom wood and metal products targeted at the multi-billion dollar high-end retail in-store development industry, the OEM industrial products, automotive and construction industries, in Canada, the United States and increasingly, overseas. Royal Laser Corp. employs state-of-the-art industrial technology to fabricate custom and standardized wood and metal products, including robotic wood finishing lines, advanced laser-based computer-integrated manufacturing systems and advanced stamping presses. In addition to contract manufacturing services, Royal Laser provides value-added engineering and design services. The Corporation's common shares trade on the Toronto Stock Exchange under the symbol "RLC".

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

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