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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Strategic Metals Ltd New | TSXV:SMD | TSX Venture | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.18 | 0.175 | 0.19 | 0.185 | 0.175 | 0.175 | 180,100 | 21:19:55 |
Strategic Metals Ltd. (TSX VENTURE:SMD) ("Strategic") announces that it is making a new Normal Course Issuer Bid (the "New Bid") pursuant to the provisions of TSX Venture Exchange Policy 5.6, to succeed its existing Normal Course Issuer Bid (the "Old Bid"), as accepted by the TSX Venture Exchange on November 21, 2012. Strategic has purchased 1,030,000 shares under the Old Bid, which will expire on November 25, 2013, at an average price of $0.3720 per share, and has purchased a total of 4,635,500 shares since January 2008 at an average price of $0.3004 per share under four successive Normal Course Issuer Bids. The New Bid will consist of the acquisition by Strategic of up to 7,300,000 common shares of its capital stock, representing approximately 10% of the "public float" of 73,909,333 common shares upon the date of commencement of the New Bid. (There are currently 89,526,851 common shares of Strategic issued and outstanding.) The New Bid will commence on November 26, 2013, and will expire on November 25, 2014. Strategic is making the New Bid, to succeed the Old Bid (which was limited to an aggregate of 8,400,000 common shares), because it is of the opinion that fluctuating global market conditions periodically (and currently) may result in unwarranted reductions in Strategic's share price that do not reflect the underlying value of its assets. Strategic will utilize unallocated cash resources to effect purchases under the New Bid with a view to capitalizing on these potential price weaknesses. Shares purchased under the New Bid will be made at Management's discretion based on market conditions, and will be returned to Strategic's treasury for cancellation. The New Bid will be conducted on behalf of Strategic by PI Financial Corp., of Suite 1900 - 666 Burrard Street, Vancouver, B.C. ON BEHALF OF THE BOARD W. Douglas Eaton, President and Chief Executive Officer For further information concerning Strategic or its various exploration projects please visit our website at www.strategicmetalsltd.com. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of exploration and other risk factors beyond its control, and actual results may differ materially from the expected results. FOR FURTHER INFORMATION PLEASE CONTACT: Strategic Metals Ltd. W. Douglas Eaton President and C.E.O. (604) 688-2568 Strategic Metals Ltd. Bruce A. Youngman Chairman (604) 687-2522 Investor Inquiries Richard Drechsler V.P. Communications (604) 687-2522 / NA Toll-Free: (888) 688-2522 rdrechsler@strategicmetalsltd.com www.strategicmetalsltd.com
1 Year Strategic Metals Chart |
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