CALGARY,
Sept. 10, 2013 /CNW/ - MBN
Corporation (the "Corporation") is pleased to announce that
it has obtained the approval of the Toronto Stock Exchange (the "TSX") to
amend its normal course issuer bid (the "Bid"), which was
previously announced on September 10,
2012. Pursuant to the original terms of the Bid, the
Corporation was permitted to acquire up to 183,703 of its equity
shares (the "Equity Shares"), which represented 10% of the
public float as at the commencement of the Bid.
Pursuant to the amended terms of the Bid, the
number of Equity Shares that may be purchased has been increased to
384,364, subject to maximum aggregate purchases of 91,525 Equity
Shares during any 30 day period. The amendment was obtained to
reflect the increase in the number of Equity Shares outstanding
resulting from the merger of the Corporation with Uranium Focused
Energy Fund ("Uranium"), pursuant to which 2,136,369 Equity
Shares were issued to former unitholders of Uranium. The increased
number of Equity Shares purchasable represents 10% of the public
float as of September 6, 2013 and as
of that date a total of 4,576,251 Equity Shares were outstanding.
The amendment will be effective as of September 10, 2013 and the Bid will expire on
September 11, 2013.
Purchases of Equity Shares made pursuant to the
Bid will be made through the facilities of the TSX at prevailing
market prices and Equity Shares so acquired will be cancelled. As
at September 6, 2013, the Corporation
had purchased 46,500 Equity Shares pursuant to the Bid at an
average price of $5.58 per Equity
Share. There is no assurance that any further Equity Shares will be
purchased pursuant to the Bid or as to the timing of any such
purchases.
MBN Corporation trades on the Toronto Stock
Exchange under the symbol "MBN".
This press release may contain
forward-looking information, including with respect to future
purchases of Equity Shares by the Corporation. The
forward-looking information contained in this press release
constitutes current expectations, as of the date of this press
release, with respect to the matters covered hereby.
Investors and others should not assume that any forward-looking
statement contained in this press release represents an estimate as
of any date other than the date of this press release.
SOURCE MBN Corporation