Leading Brands Announces $1,000,000 US Increase in its Share Repurchase Program
29 Abril 2011 - 7:30AM
Leading Brands, Inc. (Nasdaq:LBIX), North
America's only fully integrated healthy branded beverage company
announces that its Board of Directors has authorized an increase in
its share repurchase program of an additional $1,000,000 US for the
purpose of acquiring the Company's outstanding common stock.
The Company's Board of Directors has increased the amount of its
share repurchase program as it believes the price of its shares
remains undervalued. As at the date of this release the Company has
$1,200,000 US remaining authorized in its share repurchase program.
Since the fall of 2009 the Company has repurchased 445,000 common
shares (calculated on a post consolidation basis), of which 32,000
repurchased shares have not yet been returned to treasury. As at
quarter end, the Company had 3,579,000 shares outstanding.
The repurchase program will continue concurrent with this
announcement and expire upon the expenditure of the committed
amount. It is subject to applicable laws, the insider-trading
windows imposed by the Company's trading policy and may be
suspended or terminated at any time by the Company's Board, without
prior notice. Under the program, the Company may, but is not
required to, purchase its shares from time to time through open
market or privately negotiated transactions, as market and business
conditions permit. Any repurchased shares will be returned to
authorized but unissued shares of its common stock.
As of today's date, the Company has cash and available credit
totaling approximately $3,100,000.
About Leading Brands, Inc.
Leading Brands, Inc. (Nasdaq:LBIX) is North America's only fully
integrated healthy beverage company. Leading Brands creates,
designs, bottles, distributes and markets its own proprietary
premium beverage brands via its unique Integrated Distribution
System (IDS)™ which involves the Company finding the best and most
cost-effective route to market. The Company strives to use the
best natural ingredients hence its mantra: Better Ingredients –
Better Brands.
The Leading Brands, Inc. logo is available
athttp://www.globenewswire.com/newsroom/prs/?pkgid=2681
Forward-Looking Statements
Certain information contained in this press release includes
forward-looking statements. Words such as "believe", "expect,"
"will," or comparable terms, are intended to identify
forward-looking statements concerning the Company's expectations,
beliefs, intentions, plans, objectives, future events or
performance and other developments. All forward-looking
statements included in this press release are based on information
available to the Company on the date hereof. Such statements
speak only as of the date hereof. Important factors that could
cause actual results to differ materially from the Company's
estimations and projections are disclosed in the Company's
securities filings and include, but are not limited to, the
following: general economic conditions, weather conditions,
changing beverage consumption trends, pricing, availability of raw
materials, economic uncertainties (including currency exchange
rates), government regulation, managing and maintaining growth, the
effect of adverse publicity, litigation, competition and other risk
factors described from time to time in securities reports filed by
Leading Brands, Inc.
Better Ingredients | Better Brands™
©2011 Leading Brands, Inc.
This news release is available at
www.LBIX.com
CONTACT: Leading Brands, Inc.
Tel: (604) 685-5200
Email: info@LBIX.com
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