NATCHEZ, MS, Jan. 10, 2019 /CNW/ - KFG Resources Ltd.
("KFG" or the "Company") is pleased to announce that
the TSX Venture Exchange ("TSX-V") has accepted the
Company's notice of intention to make a normal course issuer bid
(the "NCIB") for common shares in the capital of the Company
(the "Common Shares") through the facilities of the TSX-V.
The Company intends to purchase, from time to time as it considers
advisable over the 12-month period of the NCIB program, an
aggregate of 2,500,000 Common Shares, representing approximately 5%
of the Company's issued and outstanding Common Shares and
approximately 6.15% of the Company's "public float" (as such term
is defined under the TSX-V Corporate Finance Manual).
The Company may commence the NCIB on January 15, 2019 and the NCIB will terminate on
the earlier of the Company purchasing a total of 2,500,000 Common
Shares, the Company providing a notice of termination, or the date
that is 12 months following the commencement date. All purchases
will be made through the facilities of the TSX-V at market prices
and otherwise in accordance with the rules and policies of the
TSX-V. All Common Shares acquired by the Company under the NCIB
will be subsequently cancelled. The Company has appointed PI
Financial Corp. to conduct the NCIB on its behalf.
The board of directors of the Company believes that, from time
to time, the market price of the Common Shares may not adequately
reflect the Company's underlying value and future prospects and
that, at such times, the purchase of the Common Shares represents
an appropriate use of the Company's financial resources and would
be in the best interests of the Company's shareholders.
The Company's Common Shares are listed on the TSX-V,
Vancouver, B.C., trading symbol
"KFG".
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as the term is defined in the policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Cautionary statement regarding
forward‐looking
information
This news release contains 'forward-looking statements'
within the meaning of applicable securities laws. Forward-looking
statements are statements that are not historical facts and are
generally, but not always, identified by words such as the
following: expects, plans, anticipates, believes, intends,
estimates, projects, assumes, potential and similar expressions.
Forward-looking statements also include reference to events or
conditions that will, would, may, could or should occur, including,
without limitation, statements regarding the Company's intention to
commence its NCIB, the potential purchases of Common Shares for
cancellation under the NCIB program and the anticipated timing and
the extent of such purchases under the NCIB program. These
forward-looking statements are necessarily based upon a number of
estimates and assumptions that, while based on management's
expectations and considered reasonable at the time they are made,
are inherently subject to a variety of risks and uncertainties
which could cause actual events or results to differ materially
from those reflected in the forward-looking statements, including,
without limitation: general economic conditions; the performance of
the Common Shares or stock markets generally; changes in capital
and other expenditure requirements and debt service requirements;
competitive pressures; the volatility in market prices for oil and
natural gas; and other risks and uncertainties, including those
described in the Company's public disclosure documents on SEDAR at
www.sedar.com. As a result, readers are cautioned not to place
undue reliance on these forward-looking statements. The
forward-looking statements contained in this news release are made
as of the date of this release. Unless required by law, KFG has no
intention to and assumes no obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise.
SOURCE KFG Resources Ltd.