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Photon Controls, PHO.V - $0.115



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By PAndreola

Posted: Friday May 10 8:56:58PM 2013

Photon Control to buy back up to five million shares

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2013-05-10 16:10 ET - News Release

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Ms. Helena Rebec reports

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PHOTON CONTROL ANNOUNCES NORMAL COURSE ISSUER BID

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The TSX Venture Exchange has accepted Photon Control Inc.\'s notice of intention dated May 1, 2013, to make a normal course issuer bid for its common shares through the facilities of the TSX-V. As of May 8, 2013, the company may commence making purchases of up to a maximum of five million common shares, which represent approximately 4.86 per cent of the company\'s 102,909,518 issued and outstanding common shares as at May 8, 2013. A purchase of common shares under the NCIB also may not, when aggregated with the total of any other purchases in the 30 days preceding the purchase, whether through the facilities of the TSX-V or otherwise, exceed 2 per cent of the total issued and outstanding common shares of the company at the time the purchase is made.

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Canaccord Genuity Corp. will be conducting the NCIB on behalf of the company. Any common shares acquired under the NCIB will be purchased at the market price. All shares acquired by the company pursuant to the NCIB will be cancelled following purchase.

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The company is conducting the NCIB to give it the flexibility to purchase its common shares if it determines that, as a result of the difference in the fundamental value of the common shares and the market price, it is in the best interests of the company to do so.

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The normal course issuer bid will terminate on the earlier of the date determined by the company and May 7, 2014.


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