El Maniel International Inc. Announces Shares Buy-Back Program
12 Abril 2011 - 3:51PM
El Maniel International Inc (Pink Sheets:EMLL) announced today that
the Company plans to buy back up to 400 million shares of its
issued and outstanding common stock as part of a Share Buy-Back
Program. "This action is effective immediately and will run for a
period of one year or until all of the shares have been purchased,
whichever earlier by utilizing funds generated from bottom line
profits as we do not believe that the current share price reflects
the underlying fundamentals of the Company nor the anticipated
growth from multiple income streams moving forward," according to
Jamie Khoo, CEO and President of El Maniel International Inc.
"Although the Company is not under any obligations to repurchase
shares under this Share Buy-Back Program designed for its currently
undervalued stock price, we are very excited about this initiative
as it illustrates our confidence in the near to mid-term growth of
the company and our commitment towards returning capital to our
supportive shareholders."
El Maniel International Inc is a publicly traded company
currently focusing in the gold domain including but not limited to
trading, prospecting, developing and expanding the economic
potential of world class mining claims located in Ghana, West
Africa and the company is committed in creating shareholder's value
by ensuring constant development of current and new resources in
the region. For further information and updates on El Maniel, stay
tuned to www.elmaniel.com
"SAFE HARBOR" STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION
REFORM ACT OF 1995: The statements contained in this release which
are not historical facts are forward-looking statements that are
subject to risks and uncertainties that could cause actual results
to differ materially from those set forth in or implied by
forward-looking statements. These risks and uncertainties include
the Company's entry into new commercial businesses, the risk of
obtaining financing, recruiting and retaining qualified personnel,
and other risks described in the Company's Securities and Exchange
Commission filings. The forward-looking statements in this press
release speak only as of the date hereof, and the Company disclaims
any obligation to provide updates, revisions or amendments to any
forward-looking statement to reflect changes in the Company's
expectations or future events.
CONTACT: El Maniel International, Inc
Investor Relations Contact:
212-726-2179
ir@elmaniel.com
El Maniel (CE) (USOTC:EMLL)
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