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Provider: Reuters Investment Profile
Provider: Thomson Reuters Stock Report
Provider: Thomson Reuters Stock Report
Provider: GlobalData

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Marret Resource Corp To Commence Normal Course Issuer Bid

Tuesday, 2 Oct 2012 01:09pm EDT 

Marret Resource Corp announced that it has received approval from the Toronto Stock Exchange (TSX) for its proposed normal course issuer bid (NCIB) to purchase up to 1,822,008 common shares of the Company from time to time in accordance with the normal course issuer bid procedures of the TSX representing approximately 10% of the Public Float as of September 20, 2012. The NCIB will remain in effect from October 4, 2012 until October 3, 2013, or an earlier date should the Company complete its purchases. All purchases under the NCIB will be made through the facilities of the TSX, Alpha and/or alternative trading systems. The price at which Marret Resource Corp. will pay for any Common Shares purchased under the NCIB will be the market price at the time of such purchase. All Common Shares acquired by the Company under the NCIB will be cancelled. As at September 20, 2012, there were 19,403,011 Common Shares outstanding, of which the Public Float is 18,220,083 Common Shares. In accordance with the rules of the TSX, Marret Resource Corp. may purchase up to 5,146 Common Shares during any given trading day, which represents 25% of its average daily trading volume, being 20,584 Common Shares for the most recently completed six calendar months prior to the TSX acceptance of the NCIB, other than pursuant to the Block Purchase Exception. The brokerage firm conducting the NCIB on behalf of Marret Resource Corp. is RBC Capital Markets. 

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-0.02 -0.48%
11 Jul 2014