Lions Gate Metals Announces NCIB Intentionadmin
Lions Gate Metals Inc. announces that it has filed with the TSX Venture Exchange a notice of its intention to make a normal course issuer bid.
The notice provides that the Company intends to purchase up to 527,853 of its common shares by way of normal course purchases through the facilities Exchange representing 5% of the Company’s outstanding common shares. The actual number of shares and the timing of the purchases will be determined by LGM. Purchases pursuant to the bid will be conducted by Blackmont Capital Corp. in accordance with the policies of the Exchange. The Company will pay the market price for the shares at the time of purchase. All purchased common shares will be cancelled.
Lions Gate believes that the market price of its common shares is such that their purchase may be an attractive and appropriate use of corporate funds in light of potential benefits to remaining shareholders.
Mark Hewett states, “We believe that with the company’s current assets, specifically our Poplar Project, the current valuation of the company is extremely attractive for the repurchase of our shares. The Poplar Project presents a significant opportunity for LGM.”
The proposed normal course issuer bid remains subject to the acceptance of the TSX Venture Exchange.
Lions Gate Metals Inc. is a Canadian based, junior resource company focused on the exploration, development, and acquisition of both advanced and early stage mineral projects throughout British Columbia.