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Aug 26, 2014
NEWPORT ANNOUNCES NORMAL COURSE ISSUER BID
Vancouver, BC, August 26, 2014. Newport Exploration Ltd. (TSXV: NWX) ("Newport" or the "Company") wishes to announce that, subject to TSX Venture Exchange approval, it proposes to make a normal course issuer bid for up to 4,025,444 shares of the Company over a period of one year (the "Bid Period") representing 5% of the Company's outstanding common shares.
The Bid Period will commence on September 2, 2014 and will continue until the earlier of August 31, 2015 or the date by which the Company has acquired the maximum 4,025,444 shares which may be purchased under the bid. The Company does however reserve the right to terminate the bid earlier if it feels it is appropriate to do so.The Company does however reserve the right to terminate the bid earlier if it The Company has not previously purchased any of its outstanding shares.
The Company believes that its shares are currently undervalued and that the repurchase of its shares is an appropriate use of corporate funds.
Purchases will be made through the facilities of the TSX Venture Exchange. During the term of the normal course issuer bid, purchases will only be made by means of open market transactions, and conducted at the market price at the time of acquisition. The Company has appointed PI Financial Corp. as its broker to conduct normal course issuer bid transactions. Common shares purchased by the Company will be subsequently cancelled.
For further information respecting Newport, please contact:
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.