TEANECK, N.J., April 23, 2012 /PRNewswire/ -- Herborium Group, Inc., (Pink Sheets: HBRM) www.herborium.com, a Botanical Therapeutics® company, announced today that the Board of Directors of the Company has approved a new share buyback program. As the first step of the buyback program the Board authorized the Company to buy back up to 100 million of its common shares in the open market, in 2012. Herborium Group, Inc. has announced this large first step of the buyback plan to increase the value to the shareholders and to tighten up Herborium's free trading float as all shares repurchased under the program are retired.
Dr. Agnes Olszewski, Herborium's Chairmen and CEO stated: "We are most excited to confirm our commitment to increasing shareholder value beginning at the foundations, our share structure. Herborium very much values our loyal shareholders and this is just the beginning of a new chapter in our transparent communication with them and appreciation of them and their patience during some very complex deal executions. The share buyback is also the first of several material steps as Herborium prepares itself for up listing to the OTCQB and beyond as 2012 shall prove to be our most exciting year yet!"
The size and timing of these purchases will depend on price, market and business conditions and other factors.
About Herborium Group, Inc.
Herborium Group, Inc., a Botanical Therapeutics® company, focuses on developing, licensing, and marketing proprietary, botanical based medicinal products to consumers and healthcare professionals. The Company uses clinical validation to establish and maintain a differential advantage. The company sales its products in the US and Europe. For more information, please visit www.herborium.com and www.acnease.com.
One of our most important responsibilities is to communicate with shareholders in an open and direct manner. Comments are based on current management expectations, and are considered "forward-looking statements," generally preceded by words such as "plans," "expects," "believes," "anticipates," or "intends." We cannot promise future returns. Our statements reflect our best judgment at the time, and we disclaim any obligation to update or alter forward-looking statements as the result of new information or future events. The Company urges investors to review the risks and uncertainties contained within its filings with the OTC Markets and/or Securities and Exchange Commission.
For more information please inquire: Herborium Group, Inc. Investorsrelations@herborium.com
SOURCE Herborium Group, Inc.