Sep 9, 2009, 6:16 p.m. EST · Recommend · Post:
Leading Brands, Inc. Announces Share Repurchase Program
VANCOUVER, Canada, Sep 9, 2009 (GlobeNewswire via COMTEX) -- Leading Brands, Inc. (LBIX 0.51, +0.12, +30.77%) , North America's only fully integrated healthy branded beverage company, announces that its Board of Directors has authorized a share repurchase program for the repurchase of up to $500,000 US (approximately $540,000 Cdn at present exchange rates) of the Company's outstanding common stock. As of September 9, 2009 the Company had 19,958,124 shares outstanding.
The repurchase program has been initiated by the Company to acquire its shares, which the Company believes to be undervalued at recent prices.
The repurchase program will commence as soon as possible and expire upon the expenditure of the committed amount, is subject to applicable laws, the insider-trading window periods 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 shares of its common stock 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.
About Leading Brands, Inc.
Leading Brands, Inc. (LBIX 0.51, +0.12, +30.77%) 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)(tm) 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.
