Stock BuybacksBy The Online Investor Staff, updated Wed., Feb. 19, 1:14 AM
|This Slide: #12 of 25|
Slide #12. PetroShale Inc.
PetroShale Inc. (CVE:PSH.CA)
Share Amount Authorized:
PetroShale Inc. ("PetroShale" or the "Company") (TSXV: PSH, OTCQX: PSHIF) is pleased to announce that the TSX Venture Exchange ("TSXV") has accepted the Company's notice of intention to renew its normal course issuer bid (the "Bid") to purchase for cancellation, from time to time, as the Company considers advisable, up to a maximum of 11,785,163 common shares (the "Common Shares"). The maximum number of Common Shares to be purchased pursuant to the Bid represents approximately 10% of the current public float of outstanding Common Shares. Purchases of Common Shares will be made on the open market through the facilities of the TSXV and alternative trading systems. The price which the Company will pay for any Common Shares purchased by it will be the prevailing market price of the Common Shares on the TSXV at the time of such purchase. The actual number of Common Shares that may be purchased for cancellation and the timing of any such purchases will be determined by the Company.
PetroShale is an oil company engaged in the acquisition, development and consolidation of interests in the North Dakota Bakken / Three Forks oil basin in North Dakota. The U.S. Bakken is a complete petroleum system with source rock featuring multiple stacked zones accessible for development: Middle Bakken, Three Forks Benches One, Two, Three & Four, Pronghorn/Sanish and Lodgepole. Co. focuses on land interests with near term drilling exposure and targets leases with pad drilling that is either already underway, or imminent, to ensure Co.'s capital is efficiently deployed into projects that offer near-term results.
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