Omni-Lite to supply $265,000 (U.S.) in orders
Omni-Lite Industries Canada Inc.
November 23, 2007
Omni-Lite Industries Canada Inc. has received several new orders in the aerospace, automotive, and sports and recreation divisions. The total value of these orders is approximately $265,000 (U.S.). These orders are in addition to those announced on Oct. 16, 2007. "This brings the combined value of the orders received by the company, within the last 15 weeks, to approximately $3.4-million (U.S.). The company now has visibility over a significant portion of anticipated sales into 2008, shown in the backlog as contracts or purchase orders. This represents a new milestone for Omni-Lite," stated Paul Burkey, president and chief operating officer. Over the past 12 months, the company has repurchased, through the facilities of the TSX Venture Exchange, 265,000 shares through a normal course issuer bid. Omni-Lite Industries has filed, with the TSX Venture Exchange, its notice of intention to initiate a normal course issuer bid to purchase, on the open market through the facilities of the TSX Venture Exchange, up to 545,000 common shares. This represents approximately 5 per cent of 10,999,254 issued and outstanding shares. The bid is made to invest corporate funds to the best advantage. Purchases pursuant to the bid will be conducted by Cormark Securities Inc. Purchases may begin on Nov. 23, 2007, subject to approval by regulatory authorities. The bid expires on Nov. 22, 2008.
Except for historical information contained herein this document contains forward-looking statements. These statements contain known and unknown risks and uncertainties that may cause the company's actual results or outcomes to be materially different from those anticipated and discussed herein.
THE TSX VENTURE EXCHANGE NEITHER APPROVES NOR DISAPPROVES OF THE
INFORMATION CONTAINED HEREIN.
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