LOS ANGELES, Aug. 22, 2017 (GLOBE NEWSWIRE) -- Omni-Lite Industries Canada Inc. ("Omni-Lite" or the "Company") (TSXV:OML) (OTCQX:OLNCF) announces that effective August 22, 2017, Kernaghan and Partners Ltd. will be conducting, on the Company’s behalf, the Normal Course Issuer Bid as approved by the TSX Venture Exchange (“TSXV”) on May 31, 2017. This bid will be conducted in accordance with the rules of the TSXV. The consideration paid for any such Common Shares purchased will be the open market price at the time of acquisition. The Company will make no purchases of Common Shares other than open market purchases or such other means as approved by the TSXV.
The actual number of Common Shares of the Company that are purchased for cancellation under the Bid, if any, and the timing of such purchases will be determined by management as approved by the Board of Directors of the Company.
To the knowledge of the Company, no director, senior officer or other insider of Omni-Lite currently intends to sell any Common Shares into this Bid. In the case a director, senior officer, or insider does sell any common shares into the Bid, the benefits to any such person would be the same as the benefits available to all other holders whose shares are purchased.
Omni-Lite Industries Canada Inc. is a rapidly growing high technology company that develops and manufactures mission critical, precision components utilized by Fortune 500 companies including Boeing, Airbus, Bombardier, Embraer, Alcoa, Ford, Borg Warner, Chrysler, the U.S. Military, and Nike.
Except for historical information contained herein this document contains forward-looking statements. These statements contain known and unknown risks and uncertainties that may cause the Company's actual results or outcomes to be materially different from those anticipated and discussed herein.
For further information, please contact:
Mr. David Grant
Founder, Chairman, and CEO
Tel. No. (714) 757-8863 or (800) 577-6664
Fax. No. (562) 926-6913, email: firstname.lastname@example.org
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.