Leading Brands, Inc. Announces Share Repurchase Program
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VANCOUVER, Canada, Sept. 9, 2009 (GLOBE NEWSWIRE) -- Leading Brands, Inc.
(Nasdaq:LBIX), North America's only fully integrated healthy branded beverage
company, announces that its Board of Directors has authorized a share repurchase
program for the repurchase of up to $500,000 US (approximately $540,000 Cdn at
present exchange rates) of the Company's outstanding common stock. As of
September 9, 2009 the Company had 19,958,124 shares outstanding.
The repurchase program has been initiated by the Company to acquire its shares,
which the Company believes to be undervalued at recent prices.
The repurchase program will commence as soon as possible and expire upon the
expenditure of the committed amount, is subject to applicable laws, the
insider-trading window periods imposed by the Company's trading policy and may
be suspended or terminated at any time by the Company's Board, without prior
notice. Under the program, the Company may, but is not required to, purchase
shares of its common stock from time to time through open market or privately
negotiated transactions, as market and business conditions permit. Any
repurchased shares will be returned to authorized but unissued shares of its
common stock.
About Leading Brands, Inc.
Leading Brands, Inc. (Nasdaq:LBIX) is North America's only fully integrated
healthy beverage company. Leading Brands creates, designs, bottles, distributes
and markets its own proprietary premium beverage brands via its unique
Integrated Distribution System (IDS)(tm) which involves the Company finding the
best and most cost-effective route to market. The Company strives to use the
best natural ingredients hence its mantra: Better Ingredients -- Better Brands.
Forward-Looking Statements
Certain information contained in this press release includes forward-looking
statements. Words such as "believe," "expect," "will," or comparable terms, are
intended to identify forward-looking statements concerning the Company's
expectations, beliefs, intentions, plans, objectives, future events or
performance and other developments. All forward-looking statements included in
this press release are based on information available to the Company on the date
hereof. Such statements speak only as of the date hereof. Important factors that
could cause actual results to differ materially from the Company's estimations
and projections are disclosed in the Company's securities filings and include,
but are not limited to, the following: general economic conditions, weather
conditions, changing beverage consumption trends, pricing, availability of raw
materials, economic uncertainties (including currency exchange rates),
government regulation, managing and maintaining growth, the effect of adverse
publicity, litigation, competition and other risk factors described from time to
time in securities reports filed by Leading Brands, Inc.
Better Ingredients -- Better Brands(tm)
This news release is available at www.LBIX.com
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CONTACT: Leading Brands, Inc.
(604) 685-5200
info@LBIX.com
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