TTM Resources arranges 3.5-million-share buyback
Ticker Symbol: C:TTQ

TTM Resources arranges 3.5-million-share buyback

TTM Resources Inc (C:TTQ)
Shares Issued 46,329,989
Last Close 11/16/2009 $0.38
Tuesday November 17 2009 - News Release

TTM RESOURCES INC

Mr. Crichy Clarke reports

TTM Resources Inc. has today received approval from the TSX Venture Exchange to make a normal course issuer bid to purchase for cancellation, from time to time, as it considers advisable, up to 3.5 million of the company's issued and outstanding common shares (being approximately 7.5 percent of the 46,329,989 common shares outstanding at Nov. 17, 2009). Purchases will be made in accordance with exchange requirements, on the open market through the facilities of the exchange. CIBC World Markets Inc. will conduct the bid on behalf of the company. The price that the company will pay for any shares purchased will be the prevailing market price of such shares on the exchange at the time of such purchase. The company will spend up to an aggregate maximum of $1 million on the bid. The bid will commence on Nov. 23, 2009 and will terminate on the earlier of Nov. 22, 2010, or the date on which the company has acquired all of the shares sought pursuant to the bid.

Any shares acquired by the company pursuant to the bid will be cancelled. As required by exchange policy, purchases (other than purchases by way of a substantial issuer bid) will not, when aggregated with the total of all other purchases in the preceding 30 days, exceed two percent of the total issued and outstanding common shares of the company at the time the purchases are made. The board of directors of the company believe that the current and recent market prices of the company's shares do not give full effect to their underlying value and that, accordingly, the purchase of shares will increase the proportionate share interest of, and be advantageous to, all remaining shareholders. The normal course purchases will also afford an increased degree of liquidity to the company's shareholders who would like to dispose of their shares