Insider buying explainedShould have realized this before! Since they are repurchasing on both the TSXV and OTCBB, there is probably a lot more company buying going on than we can see on the tmx insider trading report.
BAAR, SWITZERLAND--(Marketwired - May 13, 2014) - MNP Petroleum Corp. (OTCQB: MNAP) (TSX VENTURE: MNP) (hereafter "MNP") has announced that, subject to regulatory approval, it intends to repurchase up to 8,296,614 of its common shares, or up to five percent of the 172,592,292 common shares that are currently issued and outstanding, in a normal course issuer bid to be conducted by Jennings Capital Inc. All purchases of common shares under the bid will be effected on the TSX Venture Exchange or the OTCQB in the United States (or such other stock exchange or quotation system upon which the company's shares may then be listed or quoted) and, in any event, in accordance with the rules and policies of the TSX Venture Exchange and applicable securities laws. The shares are being purchased because MNP believes that its common shares currently trade in a price range that does not adequately reflect their underlying value, based on its business prospects, assets and financial position.