The Company is commencing the 2014 Bid because it believes that the current market price of its Shares may not fully reflect the underlying value of the Company's business and its future business prospects. The Company believes that the purchase of Shares for cancellation is in the best interests of the Company’s shareholders by increasing the respective proportionate shareholdings and therefore increasing the respective equity interest in the Company for all remaining shareholders.
All Shares will be purchased on the open market through the facilities of the TSX-V, and payment for the Shares will be in accordance with TSX-V policies. The price paid for the Shares will be the market price at the time of purchase. Purchasing may be suspended at any time, and no purchases will be made other than by means of open market transactions during the term of the 2014 Bid. The Shares purchased by the Company will be cancelled.
The Company has engaged
Previous purchases were made by the Company under the 2013 Bid, the results of which are noted hereunder.
Results of 2013 Bid
Buccaneer acquired 392,000 Shares at an average price of
Buccaneer is a mineral exploration company whose long-term objective is to build a diversified company focused on the acquisition, exploration and development of mineral properties. Additional information about the Company is available on SEDAR at www.sedar.com.
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This News Release includes certain "forward-looking statements". All statements other than statements of historical fact, included in this release, including, without limitation, future plans and objectives of Buccaneer, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Buccaneer’s expectations are the risks detailed herein and from time to time in the filings made by Buccaneer with securities regulators.
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