🕐17.11.09 - 21:28 Uhr
TTM Resources Inc announces Normal Course Issuer Bid
TTM Resources Inc.
(the "Company") announces that it has to-day received
approval from the TSX Venture Exchange (the "Exchange") to make a Normal
Course Issuer Bid (the "Bid") to purchase for cancellation, from time to
time, as it considers advisable, up to 3,500,000 of the Companys issued and
outstanding Common Shares (being approximately 7.5% of the
46,329,989 Common Shares outstanding at November 17, 2009).
Purchases will
be made in accordance with Exchange requirements, on the open market through
the facilities of the Exchange.
CIBC World Markets Inc.
will conduct the Bid
on behalf of the Company.
The price that the Company will pay for any shares
purchased will be the prevailing market price of such shares on the Exchange
at the time of such purchase.
The Company will spend up to an aggregate
maximum of $1,000,000 on the Bid.
The Bid will commence on November 23, 2009 and will terminate on the
earlier of November 22, 2010, or the date on which the Company has acquired
all of the shares sought pursuant to the bid.
Any shares acquired by the
Company pursuant to the bid will be cancelled.
As required by Exchange
policy, purchases (other than purchases by way of a substantial issuer bid)
will not, when aggregated with the total of all other purchases in the
preceding 30 days, exceed 2% of the total issued and outstanding common
shares of the Company at the time the purchases are made.
The Board of Directors of the Company believe that the current and
recent market prices of the Companys shares do not give full effect to
their underlying value and that, accordingly, the purchase of shares will
increase the proportionate share interest of, and be advantageous to, all
remaining shareholders.
The normal course purchases will also afford an
increased degree of liquidity to the Companys shareholders who would like
to dispose of their shares.
About TTM Resources
TTM Resources Inc.
is a Vancouver, British Columbia based Molybdenum
Development and Exploration Company focused on the resource development of
the Chu Molybdenum Project and three other molybdenum properties in British
Columbia, Canada.
For further information visit the Companys web site at
www.ttmresources.ca
TTM RESOURCES INC.
"Crichy Clarke"
W.K.
Crichy Clarke
President & CEO
This communication to shareholders and the public contains certain
forward-looking statements.
Actual results may differ materially from those
indicated by such statements.
All statements, other than statements of
historical fact, included herein, including, without limitations statements
regarding future production, 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.
The TSX
Venture Exchange has not reviewed and does not accept responsibility for the
adequacy or accuracy of this release.
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