Sentry Select Primary Metals Corp. (TSX: PME) announces intention to make normal course issuer bid
TORONTO: Sentry Select Primary Metals Corp. (the “Corporation”) is pleased to announce that it intends to purchase up to 1,842,900 of the class A shares of the Corporation (the “Shares”) for cancellation by way of a normal course issuer bid through the facilities of The Toronto Stock Exchange (the “TSX”). The 1,842,900 Shares represent approximately 10% of the public float of the Corporation. As of July 18, 2007, 18,500,000 Shares are issued and outstanding. The public float of 18,429,000 Shares has been calculated as the currently issued and outstanding Shares, excluding those Shares that are owned and controlled by the Corporation, the principal securityholders of the Corporation, or the directors and senior officers of the Corporation and excluding those Shares that are pooled, escrowed or non-transferable. Normal course issuer bid: The purchases may commence on July 20, 2007, and will terminate on July 19, 2008, or on such earlier date as the Corporation may complete its purchase or provide notice of termination. Any such purchases will be made by the Corporation at the prevailing market price at the time of such purchases in accordance with the requirements of the TSX. If Class A Shares are offered on the TSX at prices that are less than 90% of the latest determined net asset value per Share, the manager of the Corporation intends to offer to purchase such Shares, if it determines that such purchases are in the best interests of Shareholders, and subject to compliance with the applicable regulatory requirements and limitations. In any 30-day period, the Corporation will not purchase more than 370,000 Shares, representing 2% of the issued and outstanding Shares as at the date of acceptance of the notice of the normal course issuer bid by the TSX. The Corporation has not purchased any of its Shares in the last 12 months prior to the date of this Notice. To the knowledge of the Corporation, no director, senior officer or other insider of the Corporation intends at present to sell any Shares under this bid. However, sales by such persons through the facilities of the TSX or elsewhere may occur if the circumstances or decisions of any such person change. The benefits to any such person whose Shares are purchased would be the same as the benefits available to all other holders whose Shares are purchased. Trading information: The Class A Shares and the Warrants trade on the TSX under the symbols PME and PME.WT, respectively. Sentry Select Primary Metals Corp.: The Corporation’s investment objective is to provide shareholders with long-term capital appreciation by investing in an actively managed portfolio consisting primarily of securities of mining and exploration issuers. For at least the first three years, the Manager intends to focus on issuers that are engaged in the production of and/or exploration for uranium, nickel and molybdenum. Sentry Select Capital Corp.: Sentry Select Capital Corp., the manager of the Corporation, is a Canadian wealth management company that manages over $8 billion in gross assets as of June 30, 2007. The company offers a diverse range of investment products including closed-end trusts, mutual funds, principal-protected notes and flow-through limited partnerships, covering a variety of domestic and global mandates. With 29 reporting issuers, Sentry Select Capital Corp. is the leading manager and/or advisor to entities listed on the TSX. In addition, Sentry Select Capital Corp. manages and/or provides advisory services to 4 reporting issuers listed on the TSX Venture Exchange. More information: Investor Services (broker/investor inquiries) or Kinga Lam (media inquiries) Tel: 1-888-246-6656 Fax: 416-364-1330 email@example.com This news release contains forward-looking statements that involve risks and uncertainties. These forward-looking statements relate to, among other things, the future performance of the Corporation, including the potential for purchases pursuant to the normal course issuer bid. These statements reflect the Corporation’s and Sentry Select’s current expectations, but are subject to a number of risks and uncertainties. Due to the many risks and uncertainties, the Corporation and Sentry Select cannot assure that the forward-looking statements contained in this news release will be realized.
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