KFG Resources Ltd. V.KFG

KFG Resources to buy back up to 2.5 million shares

[loubastone]

KFG Resources to buy back up to 2.5 million shares 2019-01-10 15:52 ET - News Release An anonymous director reports KFG RESOURCES ANNOUNCES INTENTION TO COMMENCE NORMAL COURSE ISSUER BID The TSX Venture Exchange has accepted KFG Resources Ltd.'s notice of intention to make a normal course issuer bid for common shares in the capital of the company through the facilities of the TSX-V. The company intends to purchase, from time to time as it considers advisable over the 12-month period of the NCIB program, an aggregate of 2.5 million common shares, representing approximately 5 per cent of the company's issued and outstanding common shares and approximately 6.15 per cent of the company's public float (as such term is defined under the TSX-V Corporate Finance Manual). The company may commence the NCIB on Jan. 15, 2019, and the NCIB will terminate on the earlier of the company purchasing a total of 2.5 million common shares, the company providing a notice of termination or the date that is 12 months following the commencement date. All purchases will be made through the facilities of the TSX-V at market prices, and otherwise in accordance with the rules and policies of the TSX-V. All common shares acquired by the company under the NCIB will be subsequently cancelled. The company has appointed PI Financial Corp. to conduct the NCIB on its behalf. The board of directors of the company believes that, from time to time, the market price of the common shares may not adequately reflect the company's underlying value and future prospects, and that, at such times, the purchase of the common shares represents an appropriate use of the company's financial resources and would be in the best interests of the company's shareholders. We seek Safe Harbor.

[bimsox69$]

I jsut dropped my price to .06, I will leave my 330000 shares there for 1 week

[loubastone]

From what I've seen with SNF.V they did the same thing KFG is about to do, I don't think they are allowed to push the price up. They can only bid on the last sold price. So right now they can bid at 3.5 cents, if people hit 5 cents, then they could accumulate at 5 cents

[bimsox69$]

Thanks didn't know that I guess we will all be here a long time. taking the family to assisippi to go sking so all is good. go rams anyone but the pats

[loubastone]

Well if the company doesn’t buy at 5 cents, I might be interested taking your position at 5 cents soon. I’m working on selling some winners in the coming weeks and would like to increase my position here to 1.5 mil shares, I got about 1.1 right now. Add my families position it’s north of 2.25 mil. Maybe something to think about if not it’s all good 

[TrudeauFalls]

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[TheGreatGazoo99]

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[bimsox69$]

No I am trying to sell to the bid but with no intereast it's pretty hard to unload 300K in shares Hope all the insider hype comes to be. Now that we are in bed with DC I want out even more

[loubastone]

Would you sell that entire lot at 5.5 cents? I am interested

[bimsox69$]

To date the company has only bought back 21K at .04 that's a whooping $840 unless KFG intendes to renage on this I will sit and wait for my .07 I am retired and have lots of time to complain.If you honestly don't think this will hit .07 this year you should tell your freind and family

[alank1]

don't care if the company don't buy and cancel lots of shares thru the ncib, i think invest the money properly buying producing assets and drilling will bring more value, so better we use the cash on that.

[TheGreatGazoo99]

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