VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 1, 2011) - ComWest Enterprise Corp. (TSX VENTURE:CWP)(TSX VENTURE:CWP.A) ("ComWest") is pleased to advise that the TSX Venture Exchange ("TSXV") has accepted ComWest's Notice of Intention to make a normal course issuer bid ("NCIB") for up to 5% of its outstanding Class A and Class B shares. ComWest believes that the current market conditions provide opportunities to acquire its common shares at attractive prices that do not reflect the underlying value and that the purchase of common shares for cancellation is an appropriate use of corporate funds that will increase the proportionate interest of, and be advantageous to, all remaining holders of common shares.
The NCIB will consist of the purchase, from time to time, if and to the extent that ComWest considers it advisable, of up to 404,200 Class A and 112,800 Class B shares. Purchases will be made through the facilities of the TSXV. Purchase and payment for the securities will be made by ComWest in accordance with TSXV requirements and the price which the Issuer will pay for any securities acquired by it will be the market price of the securities at the time of acquisition. There are currently 8,084,301 Class A and 2,256,898 Class B shares outstanding.
The NCIB will commence on December 6, 2011 and terminate on November 30, 2012 or such earlier date as the NCIB is completed or terminated at the option of ComWest.
ON BEHALF OF THE BOARD
Douglas F. Good, President
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
Contact Information:
Investor Relations
778 370 1725
dgood@comwestenterprise.ca