USGIF Shareholders should suggest a buy back program if you believe that the Shares are currently significantly undervalued -
The Company should file the NCIB Program to allow for market purchases of the Company's common shares (the "Shares") under certain market conditions and subject to the approval of the Board of Directors. The Company does not currently intend to purchase Shares on the market, but may do so from time to time in the future with a NCIB Program in place.
E.g., Pursuant to the terms of the NCIB Program, U.S. Silver & Gold Inc. should be permitted to purchase Shares for cancellation through the facilities of the TSX at the prevailing market price of the Shares. The Company may purchase a maximum of x-million Shares (or 10% of the total public float) pursuant to the NCIB Program. Purchases will be subject to a daily maximum of X- Shares, except where such purchases are made in accordance with the "block purchase" exemption under applicable TSX policy. U.S. Silver & Gold Inc. should be allowed to make purchases from time to time commencing on ex. December 2012 and ending on December 2013.
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