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Terra Energy Announces Normal Course Issuer Bid |
August 30, 2011
CALGARY, ALBERTA--(Marketwire - Aug. 30, 2011) - Terra Energy Corp. ("Terra" or the "Company") (TSX:TT) announces that the Toronto Stock Exchange (the "TSX") has accepted its Notice of Intention to Make a Normal Course Issuer Bid (the "2011 Issuer Bid"). Under the terms of the 2011 Issuer Bid, Terra is authorized to acquire up to an aggregate of 5,092,000 of its common shares ("Common Shares") over the next 12-month period representing approximately 5% of its issued and outstanding Common Shares as at August 26, 2011. A maximum of 19,192 Common Shares may be purchased by Terra on any one day, subject to any exemptions permitted by the TSX. All Common Shares purchased by Terra under the 2011 Issuer Bid will be returned to treasury and cancelled. As at today's date, Terra has 101,851,922 Common Shares outstanding. Although Terra has a present intention to acquire Common Shares, it is not obligated to make any purchases pursuant to the 2011 Issuer Bid. In the past 12 months, Terra has acquired 543,300 Common Shares at a weighted average price of $1.21 per share pursuant to its previous normal course issuer bid.
http://www.marketwire.com/mw/release.do?id=1555478&sourceType=3
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