FCDH 1 billion shares buy Back NEWS !!!! FCDH
TORONTO -- (MARKET WIRE) -- 12/19/05 -- First Canadian American Holding Corpora
ion (OTC: FCDH) today announced that its board of directors approved plans to bu
back up to one billion of the company's stock over the next two years.
The stock buyback program approved by the board authorizes the company to
buy back up to one billion of the company's stock over the next two years.
The specific timing and amount of repurchases will vary based on market
conditions, securities law limitations and other factors. The repurchases
will be made using First Canadian's cash resources, and the program may be
suspended or discontinued at any time without prior notice.
"We are confident in our
long-term ability to grow revenue, profits and shareholder value through
our innovation and execution," said Sandy Winick, First Canadian's
President. "We will continue to make investments in The Fight Network, but
we can now also provide significant additional value to shareholders over
the next two years."
"As we looked at our choices, our priorities is to implement a
stock-buyback program to add confidence to our shareholders in the
long-term commitment we have to the company," Winick added.
About First Canadian American Holding Corporation:
First Canadian American Holding Corporation is a holding company with
subsidiaries that conduct operations in areas of digital television, radio
and the Internet under The Fight Network brand.
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