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Article: Bradmer to repurchase up to 8.3 million of its common shares pursuant to a substantial issuer bid.
- Article from:
- Biotech Week
- Article date:
- July 29, 2009
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Bradmer Pharmaceuticals Inc. (TSX: BMR) ("Bradmer" or the "Corporation") announced that its Board of Directors has authorized the Corporation to proceed with a substantial issuer bid (the "Offer"), pursuant to which the Corporation will offer to purchase for cancellation up to 8,300,000 million of its outstanding common shares ("Shares") at a price of Cdn$0.20 (approximately US$0.1788) per Share. The funds required to pay for Shares purchased pursuant to the Offer, and the payment of the fees and expenses of the Offer, will be funded by Bradmer out of cash on hand (see also Bradmer Pharmaceuticals Inc.).
"While we continue to pursue an appropriate business ...