Alberta-based Humpty’s Restaurants International has announced its intention to conduct a normal course issuer bid to acquire up to 759,740 common shares representing 5% of the total number of common shares outstanding.
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The corporation said that it feels that it “has recovered from losses incurred as a result of aggressive expansion into British Columbia and as such, it believes that its common shares are undervalued and represent an attractive investment opportunity”.
The proposed bid, which is subject to the approval of the TSX Venture Exchange will be conducted by Yorkton Securities. It is intended that the bid will commence immediately upon approval by the TSX Venture Exchange and may extend for up to one year from the date of commencement.
