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Pinecrest Energy Inc Announces Intention To Commence Normal Course Issuer Bid


Wednesday, 5 Jun 2013 09:32am EDT 

Pinecrest Energy Inc announced that subject to the TSX Venture Exchange (TSXV) approval, Pinecrest intends to commence a Normal Course Issuer Bid (the Bid) to purchase, from time to time, as it considers advisable, up to 19,559,679 common shares (which is equal to 10% of the public float) on the open market through the facilities of the TSXV. Cormark Securities Inc. has been engaged to conduct the Bid on behalf of Pinecrest. The price that Pinecrest will pay for any common shares under the Bid will be the prevailing market price on the TSXV at the time of purchase. Common Shares acquired under the Bid will be subsequently cancelled. The Bid will commence upon the receipt of approval from the TSXV and will terminate one year from such date or such earlier date as the Bid is completed or terminated at the option of Pinecrest. 

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