TSX-V: GMN
TORONTO, Jan. 21, 2016 /CNW/ - (TSXV: GMN) GobiMin Inc.
(the "Company" or "GobiMin") announces that it proposes to extend
into 2016 its normal course issuer bid (the "Bid") subject to
approval of the TSX Venture Exchange ("TSXV") and has filed a
further Notice of Intention to Make a Normal Course Issuer Bid with
the TSXV.
Under the Bid in 2016, a total of up to 2,627,324 common shares
may be purchased through the facilities of the TSXV and any such
purchases will be at market prices. The Bid will commence on or
after February 12, 2016 and will end
on February 11, 2017 or on such
earlier date as GobiMin may complete its purchases pursuant to the
Bid or as it may otherwise determine.
GobiMin is continuing to engage in the Bid because it believes
that the market price of its common shares does not properly
reflect its underlying value. Purchases pursuant to the Bid will be
conducted through Desjardins Securities Inc. Under the Bid in 2015,
GobiMin has purchased 2,765,500 common shares to date at an average
price of CAD$0.4615 for
cancellation.
"Neither TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release."
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SOURCE GobiMin Inc.