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NR repurchase 1m shares
Apr 20, 2010 02:29PM
Concord, Ontario – April 20, 2010 –
Epsilon Energy Ltd. ("Epsilon") (TSX: EPS) announced today that it has signed an agreement with a former director and officer of Epsilon to purchase one million (1,000,000) common shares or approximately 2% of the 50,625,998 common shares that are currently issued and outstanding. The purchase price is a total of $2.5 million, or $2.50 per share.
The shares purchased by Epsilon will be canceled. The purchase and cancellation is being made as an exempt issuer bid pursuant to section 4.7 Multilateral Instrument 62-104
Take-Over Bids and Issuer Bids
("MI 62-104"). The price per share has been calculated to comply with the requirements of section 1.11 of MI 62-104.