ENPAR TO COMMENCE NORMAL COURSE ISSUER BID
February 07 2011 - 4:29PM
PR Newswire (Canada)
GUELPH, ON, Feb. 7 /CNW/ -- GUELPH, ON, Feb. 7 /CNW/ - ENPAR
Technologies Inc. (TSX-V: ENP) ("ENPAR" or the "Company") announces
that the TSX Venture Exchange (the "Exchange") has accepted a
notice filed by the Company stating its intention to initiate a
Normal Course Issuer Bid ("NCIB"). The notice provides that ENPAR
may purchase for cancellation up to 2,990,528 of its common shares,
representing approximately 5% of the 59,810,578 issued and
outstanding common shares of the Company. Pursuant to the NCIB,
ENPAR will pay the market price for any common shares at the time
of purchase during the 12 month period commencing February 7, 2011
and ending February 6, 2012. All purchases will be made through the
TSX Venture Exchange by Foster & Associates, a Toronto
brokerage firm, acting as an independent trustee on behalf of
ENPAR The Company is making the NCIB as it is of the view
that the common shares have been trading at a range that does not
adequately reflect their value in relation to the Company's assets
and growth prospects. To the extent that the Company purchases for
cancellation such common shares in accordance with the NCIB, the
holdings of remaining shareholders would represent an increased
proportion of the common shares outstanding and, all other things
remaining equal, are expected to result in an increased net asset
value per common share. ENPAR purchased and cancelled 10,000 common
shares in 2010 pursuant to a NCIB which terminated on April 26,
2010. About ENPAR Technologies Inc. ENPAR is a "Technology Company"
applying its patented and proprietary "Electrochemical
Technologies" to the treatment of waste water, desalination water
and drinking water contaminated by metals or nutrients, i.e.,
nitrate/ammonia associated with the mining, metal processing,
chemical, agricultural, municipal and waste management sectors. The
common shares trade on Tier ll of the TSX Venture Exchange under
the symbol "ENP". At present, ENPAR holds a total of 20 patents and
has submitted an additional 18 patent applications related to six
distinct technologies. The TSX Venture Exchange has not reviewed
and does not accept responsibility for the adequacy or accuracy of
this release. Forward Looking Statements This news release contains
forward-looking statements within the meaning of the "safe harbour"
provisions of the Private Securities Litigation Reform Act of 1995.
These forward-looking statements are subject to risks and
uncertainties and other factors that may cause ENPAR Technologies
Inc. results to differ materially from expectations. These include
risks relating to market fluctuations, property performance and
other risks. These forward-looking statements speak only as
of the date hereof. Certain statements contained in this
press release and in certain documents incorporated by reference
into this press release constitute forward-looking statements. The
use of any of the words "anticipate", "continue", "estimate",
"expect", "may", "will", "project", "should", "believe" and
"confident" and similar expressions are intended to identify
forward-looking statements. These statements involve known and
unknown risks, uncertainties and other factors that may cause
actual results or events to differ materially from those
anticipated in such forward-looking statements. ENPAR believes that
the expectations reflected in those forward-looking statements are
reasonable but no assurance can be given that these expectations
will prove to be correct and such forward-looking statements
included in, or incorporated by reference into, this press release
should not be unduly relied upon. These statements speak only as of
the date of this press release. ENPAR undertakes no obligation to
publicly update or revise any forward-looking statements, whether
as a result of new information, future events or otherwise. To view
this news release in HTML formatting, please use the following URL:
http://www.newswire.ca/en/releases/archive/February2011/07/c8684.html
p align="center"Gene S. Shelp, Ph.D., P.Geo., President and CEObr/
Tel: (519) 836-6155br/ Fax: (519) 836-5683br/ E-mail: a
href="mailto:gshelp@enpar-tech.com"gshelp@enpar-tech.com/abr/ Web
Site: a href="http://www.enpar-tech.com"www.enpar-tech.com/a/p
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