Velan Inc.
TSX : VLN

Velan Inc.

October 17, 2008 10:44 ET

Velan Announces TSX Approval of Normal Course Issuer Bid

MONTREAL, QUEBEC--(Marketwire - Oct. 17, 2008) - Velan Inc. (the "Corporation") (TSX:VLN) today announced that it has received approval from the Toronto Stock Exchange for its normal course issuer bid previously announced on October 14, 2008. The bid will commence on October 21, 2008 and terminate on October 20, 2009, or on such earlier date as the Corporation may complete its purchases pursuant to the bid. Under the bid, the Corporation may purchase up to 337,620 Subordinate Voting Shares of the Corporation. In accordance with TSX requirements and subject to certain exceptions for block purchases, a maximum daily repurchase of 2,341 shares may be made.

Tom Velan, President

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Contact Information

  • VELAN Inc.
    Tom Velan
    President
    514-748-7743
    514-748-8635 (FAX)
    or
    VELAN Inc.
    John D. Ball
    Chief Financial Officer
    514-748-7743
    514-748-8635 (FAX)
    www.velan.com