Omni-Lite announces Normal Course Issuer Bid
Omni-Lite Industries Canada Inc.
May 17, 2011
CERRITOS, CA, May 17 - The Board of Directors of Omni-Lite Industries Canada Inc. (“Omni-Lite” or the “Company”) announced today that it has authorized the purchase of up to 670,900 common shares of the Company which is equal to approximately 5 percent of the 13,419,166 issued and outstanding shares by way of a normal course issuer bid (“NCIB”) on the TSX Venture Exchange (“TSXV”).
The normal course issuer bid is subject to approval by the TSXV. If approved by the TSXV, purchases pursuant to the NCIB will be made on the open market through the facilities of the TSXV. From February 2004 to December 2008, the Company has repurchased and canceled a total of 1,822,300 common shares pursuant to previous normal course issuer bids.The NCIB is made to invest corporate funds to the best advantage. Purchases pursuant to the NCIB will be conducted by Cormark Securities Inc. Purchases may begin on May 23, 2011, subject to approval by regulatory authorities. The bid expires on May 22, 2012.
Omni-Lite is a rapidly growing high technology company that develops and manufactures precision components utilized by several Fortune 500 Companies including Boeing, Airbus, Alcoa, Ford, Caterpillar, Borg Warner, Chrysler, the U.S. Military, Nike and adidas.
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.
For further information: Mr. Tim Wang, CFO, Tel. No. (562) 404-8510, or (800) 577-6664 (Canada and USA), Fax. No. (562) 926-6913, email: firstname.lastname@example.org
|| Main Page | Investor Info | Profile / Divisions | Online Store | Contact Us | | Follow @OmniLiteInd ||