Silvermet to Extend Normal Course Issuer Bid
March 12 2014 - 4:30PM
Marketwired Canada
THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT
AUTHORIZED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES.
Silvermet Inc. ("Silvermet" or the "Company") (TSX VENTURE:SYI) announced today
that it has received approval from the Toronto Venture Exchange to renew its
Normal Course Issuer Bid ("NCIB") for a further twelve (12) month term.
Under the current NCIB (March 15, 2013 - March 14, 2014), the Company has
purchased and cancelled a total of 2,171,000 common shares through the close of
trading March 12, 2014 at an average price of $0.086 per common share. The
Company is authorized to purchase up to 10,604,888 common shares which number of
common shares is equal to 10% of the Company's public float as of the date
hereof, during the twelve (12) month period March 15, 2014 - March 14, 2015
through D&D Securities Inc.
Silvermet is of the opinion that the current market price of its common shares
does not reflect fair value and as such purchases made under the NCIB represent
good value to Silvermet and its shareholders.
About Silvermet:
Silvermet's principal business activity is the recycling of electric arc furnace
dust ("EAFD") obtained from steel companies through a Waelz kiln to recover zinc
concentrates that are then sold to zinc smelters throughout the world. The
Company owns 49% of a joint venture, Befesa Silvermet Turkey S.L. ("BST"), which
operates a Waelz kiln facility located in Iskenderun, Turkey.
"Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release."
Caution concerning forward-looking statements: The information in this release
may contain forward-looking information under applicable securities laws. This
forward-looking information is subject to known and unknown risks, uncertainties
and other factors that may cause actual results to differ materially from those
implied by the forward-looking information. Factors that may cause actual
results to vary include, but are not limited to, inaccurate assumptions
concerning the exploration for and development of mineral deposits, political
instability, currency fluctuations, unanticipated operational or technical
difficulties, changes in laws or regulations, the risks of obtaining necessary
licenses and permits, changes in general economic conditions or conditions in
the financial markets and the inability to raise additional financing. Readers
are cautioned not to place undue reliance on this forward-looking information.
The Company does not assume the obligation to revise or update this
forward-looking information after the date of this release or to revise such
information to reflect the occurrence of future unanticipated events except as
may be required under applicable securities laws.
Shares Outstanding: 154,148,216
FOR FURTHER INFORMATION PLEASE CONTACT:
Silvermet Inc.
Stephen G. Roman
Chairman, President & CEO
info@silvermet.ca
Silvermet Inc.
Ian D. Atacan
Chief Financial Officer
iatacan@silvermet.ca
www.silvermet.ca