SOURCE: Totally Green, Inc.
TORONTO, ON--(Marketwired - Jan 8, 2014) - Totally Green, Inc. ("Totally Green" or the "Company") (PINKSHEETS: TLGN) today announced that its Board of Directors has approved a stock repurchase program, authorizing the Company to repurchase, in aggregate, up to 1,000,000 shares of its outstanding common stock.
"Given the prospects for our business, we think our current stock price is significantly undervalued. We believe the stock buyback addresses this misalignment and is in the best interests of our stockholders," said Shawn Dym, Totally Green's Chief Executive Officer.
Mr. Dym noted that the Company's prospects currently include discussions with a number of national chains in the United States and Canada. Mr. Dym further commented, "We intend and expect to ultimately prove that our service is the ideal organic waste disposal solution and are hopeful that it will eventually lead to these prospects implementing our solution nationally."
Under the program authorized by its Board of Directors, Totally Green may repurchase shares in open-market purchases. The extent to which Totally Green repurchases its shares and the timing of such repurchases will depend upon market conditions and other corporate considerations, as determined by Totally Green's management team. The purchases will be funded from existing cash balances.
About Totally Green
Totally Green develops, manufactures and distributes the Organic Refuse Conversion Alternative (ORCA) Green Machine. The ORCA machine allows for composting of organic material in institutional commercial user applications, after which the liquid compost is disposed of through the ordinary sewer system. The ORCA uses an aerobic composting process to convert food waste into nutrient rich water that safely discharges into the sanitary sewer system. The ORCA significantly accelerates the breakdown of food waste by adding its micro-organisms solution and bio chips to the digestion process.
For More Information
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