Hunt Gold Corporation – Company to Commence Stock Purchasesadmin
Hunt Gold Corporation announced on November 4, 2008 that it had been resolved that the Company will commence with the purchase of shares of its own Common Stock in the market.
The Company is now in a position to confirm that it will commence these purchases early next week as the necessary arrangements have been made with Brokers to purchase these shares for and on behalf of the Company.
The Company is confident that it will be in a position to accumulate fairly substantial amounts of stock at the current very low price levels as it appears that there are significant sellers or “weak holders” at these price levels, based upon our observations of this week’s trading patterns in the market.
The Company stresses that these purchases of its shares of Common Stock in the market are for investment purposes only; once purchased, they will be held in Treasury and will not be cancelled.
The Company intends to sell these shares in the market in due course and at what Management believes will be at a substantial profit, and only at such time as the Company’s stock price corrects itself to reasonable and accurate prices.
The Company will account for these profits as an Extraordinary Item in its Financial Statements.
Hunt Gold Corporation is a Gold Mining & Exploration Company focused on the development and exploration of its Gold properties, namely “Mockingbird,” “Ambassador,” “Golden Eagle,” “Gladstone Lookout,” “Lady Alde,” “Lookout Silver,” “Starlight,” “American Flag,” “Venezia,” “Stormcloud,” “Cherry,” “Buffalo Limecap,” “Red Cloud” and “Federal.” The Company has completed the sale of its “American Molygold” interests and will be distributing the entire sale proceeds through a Stock Dividend to its stockholders, this to be announced shortly.