Toronto, Ontario, July 24, 2012: Canadian Silver Hunter Inc. (the “Company”) (TSX-V: AGH) is pleased to announce today that it intends to proceed with a normal course issuer bid to purchase up to 1,314,200 common shares of the Company (the “Bid”).
The Company is commencing the Bid because it believes that the current market price of its common shares may not fully reflect the underlying value of the Company’s business and its future business prospects. The Company believes that the purchase of common shares for cancellation is in the best interests of the Company’s shareholders by increasing the respective proportionate shareholdings and therefore increasing the respective equity interest in the Company for all remaining shareholders.
As of the date of this press release, the Company has 18,188,000 common shares issued and outstanding. The 1,314,200 common shares that may be purchased by the Company under the Bid represent approximately 10% of the public float of the Company. The Company has received acceptance from the TSX Venture Exchange (“TSXV”) to commence the Bid on July 26, 2012. The Bid will terminate on July 25, 2013 or at such earlier date in the event that the number of shares sought in the Bid has been repurchased. The Company reserves the right to terminate the Bid earlier if it feels that it is appropriate to do so.
All shares will be purchased on the open market through the facilities of the TSXV, and payment for the common shares will be in accordance with TSXV policies. The price paid for the common shares will be the market price at the time of purchase. Purchasing may be suspended at any time, and no purchases will be made other than by means of open market transactions during the term of the Bid.
The Company has engaged All Group Financial Services Inc. to act as broker through which the Bid will be conducted. There have not been any previous purchases under a normal course issuer bid by the Company within the past 12 months.
About Canadian Silver Hunter
CSH is a junior mineral exploration company focused primarily on the identification, evaluation, acquisition and exploration of mineral properties. CSH holds a 100% interest in the prolific past producing Keeley Frontier project, located in the South Lorrain Township, Larder lake Mining Division, Ontario. CSH’s current focus is on the exploration of the Keeley Frontier project for silver, cobalt and nickel deposits.
For further information please contact:
Canadian Silver Hunter Inc.
President and CEO
Tel: (416) 707 4230
CAUTIONARY STATEMENT: 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. This News Release includes certain “forward-looking statements”. These statements are based on information currently available to the Company and the Company provides no assurance that actual results will meet management’s expectations. Forward-looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results relating to, among other things, the normal course issuer bid, could differ materially from those currently anticipated in such statements for many reasons such as: changes in general economic conditions and conditions in the financial markets; changes in demand and prices for minerals; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological and operational difficulties encountered in connection with the activities of the Company; and other matters discussed in this news release. This list is not exhaustive of the factors that may affect any of the Company’s forward-looking statements. These and other factors should be considered carefully and readers should not place undue reliance on the Company’s forward-looking statements. The Company does not undertake to update any forward-looking statement that may be made from time to time by the Company or on its behalf, except in accordance with applicable securities laws.