CALGARY, ALBERTA--(Marketwired - Sept. 17, 2014) - Humboldt Capital Corporation (TSX VENTURE:HMB) announced today that it has received approval from the TSX Venture Exchange (the "Exchange") to make a Normal Course Issuer Bid (the "Bid") to purchase for cancellation, from time to time, as it considers advisable, up to 596,000 of the issued and outstanding Common Shares (being approximately 5% of the Common Shares outstanding at September 17, 2014). Purchases will be made on the open market through the facilities of the Exchange. CIBC Wood Gundy will conduct the Bid on behalf of Humboldt. The price which Humboldt will pay for any shares purchased by it will be the prevailing market price of such shares on the Exchange at the time of such purchase.
Pursuant to Normal Course Issuer Bids, during the previous 12 months, Humboldt purchased no Common Shares.
The Bid may commence immediately and will terminate on September 9, 2015, or such earlier time as the applicable Bid is completed or at the option of Humboldt.
The Board of Directors of Humboldt believe that the current and recent market prices of Humboldt's shares do not give full effect to their underlying value and that, accordingly, the purchase of shares will increase the proportionate share interest of, and be advantageous to, all remaining shareholders. The normal course purchases will also afford an increased degree of liquidity to Humboldt shareholders who would like to dispose of their share.
Further information regarding the Bid and a copy of the notice may be obtained at www.humboldtcapital.com or by contacting the Company at the phone number below and requesting a copy of the notice.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-looking statements - From time to time, we make written or oral forward-looking statements within the meaning of certain securities laws, including in this press release report, in other filings with Canadian securities regulators and in other communications. These statements include, but are not limited to, statements about our potential normal course issuer bid purchases and about our financial condition, priorities, targets, ongoing objectives, strategies and outlook. Forward-looking statements are subject to inherent risks and uncertainties that may be general or specific. A variety of factors, many of which are beyond our control, could cause actual results to differ materially from the expectations expressed in any of our forward-looking statements, including general business and economic conditions worldwide; amendments to, and interpretations of, risk based capital guidelines; and changes in monetary and economic policy. We do not undertake to update any forward-looking statement except as required by law.
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.