Vancouver, British Columbia – Strategem Capital Corporation ( “Strategem” or the “Company”) (TSXV: SGE) wishes to announce that it has obtained the approval of the TSX Venture Exchange (the “TSXV”) to undertake a normal course issuer bid to purchase up to 294,275 of its 5,255,004 issued and outstanding Class A common shares (“Common Shares”) representing approximately 5.6% of the Company’s issued and outstanding Common Shares. Purchases will be made on the open market through the facilities of the TSXV. All purchases will be made, on behalf of the Company, by Raymond James Ltd. The price paid will be the prevailing market price of such Common Shares at the time of purchase. Any Common Shares purchased pursuant to the bid will be cancelled and returned to treasury.
The bid will commence on July 29, 2013 and will terminate on July 28, 2014 or at such earlier time as at which the bid is completed. The Company reserves the right to terminate the bid earlier if it feels that it is appropriate to do so.
The Company believes that the current market price of the Common Shares does not give full effect to their underlying value and that, accordingly, the purchase of such Common Shares will increase the proportionate interest of, and be advantageous to, all remaining security holders. The normal course purchases will also afford an increased degree of liquidity in the market. Further announcements will be made as and when appropriate.
About Strategem Capital Corporation
Strategem Capital Corporation is a publicly-traded merchant bank specializing in the development of emerging companies with above average growth potential. The current focus is on companies that explore and develop precious or base metals.
For further information please contact:
Strategem Capital Corporation
Kenneth Morgan, President and Chief Executive Officer
Suite 410, 325 Howe Street
Neither the 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.