Under its previous normal course issuer bid undertaken with the approval of and pursuant to the rules of the TSX, the Company purchased a total of 100,400 subordinate voting shares through the facilities of the TSX at a weighted average price per Share of approximately
The Company's directors have concluded that the purchase of Shares at prevailing market prices may, from time to time, be a worthwhile investment for the Company and an appropriate use of a portion of its cash on-hand, and also provides shareholders with an opportunity to realize on all or a portion of their investment, should they desire liquidity. Shares that are purchased pursuant to the bid will be cancelled, thereby enhancing the remaining shareholders' value by increasing their proportionate interests.
This press release may contain forward-looking information and forward-looking statements which reflect the current view of Danier with respect to the Company's objectives, plans, goals, strategies, future growth, results of operations, financial and operating performance and business prospects and opportunities. Wherever used, the words "may", "will", "anticipate", "intend", "estimate", "expect", "plan", "believe" and similar expressions identify forward-looking statements and forward-looking information. Forward-looking statements and forward-looking information should not be read as guarantees of future events, performance or results, and will not necessarily be accurate indications of whether, or the times at which, such events, performance or results will be achieved. All of the statements in this press release containing forward-looking statements or forward-looking information, if any, are qualified by these cautionary statements.
Forward-looking statements and forward-looking information are based on information available at the time they are made, underlying estimates, opinions and assumptions made by management and management's good faith belief with respect to future events, performance and results and are subject to inherent risks and uncertainties surrounding future expectations generally. Among other things, readers are cautioned that there can be no assurance that Danier will repurchase any Shares under the bid, the bid may not have the intended effects or benefits anticipated, and further repurchases of Shares under the bid or otherwise may impact the trading price or liquidity of the Company's Shares.
For additional information with respect to these and other risks and uncertainties applicable to Danier and investments in its securities, reference should be made to Danier's continuous disclosure materials filed from time to time with the Canadian Securities Regulatory Authorities, including the Company's most recent annual information form, quarterly and annual reports and financial statements and notes thereto, and supplementary information, which are available on SEDAR at www.sedar.com and in the Investor Relations section of the Company's website at www.danier.com. Additional risks and uncertainties not presently known to the Company or that Danier currently believes to be less significant may also adversely affect the Company. Danier disclaims any intention or obligation to update or revise any forward-looking information or forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable laws.
FOR FURTHER INFORMATION PLEASE CONTACT: Investor Relations Contact
Bryan Tatoff, Executive Vice-President, Chief Financial Officer & Secretary (416) 762-8175 ext. 328 (416) 762-7408 (FAX) firstname.lastname@example.org Source: Danier Leather Inc.