Almonty Industries Inc. (TSXV:AII) intends to commence with a Normal Course Issuer Bid. The Bid is expected to commence on December 20, 2013 and will terminate on December 19, 2014 or earlier.
As quoted in the press release:
The Company will also release its fourth quarter and year-end financial results on December 19, 2013 and a teleconference to review the results will be held at 8:30 am EST on Friday, December 20, 2013, held by Lewis Black and Dennis Logan.
The Company intends to purchase, from time to time, as it considers advisable, up to 901,627 common shares (which is equal to 2.4% of the outstanding common shares) on the open market through the facilities of the TSXV. The price that Almonty will pay for any common share under the Bid will be the prevailing market price on the TSXV at the time of such purchase. Common shares acquired under the Bid will be subsequently cancelled. Almonty currently has 37,044,389 common shares outstanding. The Company has appointed Jennings Capital Inc. to conduct the Bid on its behalf.
Almonty will release its fourth quarter and year-end financial results on December 19, 2013 at 7 p.m. ET.
Following the release, a teleconference to review the fourth quarter and year ended September 30, 2013 will be held at 8:30 a.m. ET on Friday, December 20, 2013. Representing management will be Lewis Black, chairman, president & chief executive officer, and Dennis Logan, chief financial officer. A question and answer period will follow brief remarks from management.