HyPower Fuel Announces Share Buyback Program for Value Appreciation
February 22 2011 - 7:18AM
Marketwired
HyPower Fuel Inc. (PINK SHEETS: HYPF)
HyPower announced today that its Board of Directors has approved
a share repurchase/buyback plan. Under the buyback plan, the
Company is authorized to repurchase up to an aggregate of $500,000
of its common stock
(http://ih.advfn.com/p.php?pid=nmona&article=45990755) over the
next year. Shares so purchased will be cancelled and removed from
the outstanding share count. Acquisitions of stock under the
repurchase plan will be made at times and at prices prevailing in
the open market or in privately negotiated transactions as
permitted by securities and business laws. The repurchase program
will be funded by the Company's available cash and may continue as
long as management determines it to be fiscally feasible and may be
discontinued at any time.
In response to inquiries from shareholders, HyPower also wishes
to confirm that there is no reverse split being considered for the
forseeable future.
Mr. Douglas Bender, President and CEO of HyPower, explained that
"HyPower firmly believes in the strength of its product offerings
and feels that HyPower is undervalued in the marketplace. We feel
that the buyback program will further enhance HyPower's value
appreciation for our shareholders and Company alike."
About HyPower Fuel Inc.
HyPower is a category leading company in the energy technology
sector, providing innovative, clean alternative energies through
unique methods. Currently HyPower has hydrogen insertion/production
and biodiesel technologies in development and/or in the product
commercialization stage. For more information please visit:
www.hypowerfuel.com and/or contact us at:
hypower@hypowerfuel.com
Safe Harbor - This press release shall not constitute an offer
to sell or a solicitation of an offer to buy securities of HyPower
Fuel Inc. Certain statements in this release and other written or
oral statements made by or on behalf of the Company are "forward
looking statements" within the meaning of the federal securities
laws. Statements regarding future events and developments and our
future performance, as well as management's expectations, beliefs,
plans, estimates or projections relating to the future are
forward-looking statements within the meaning of these laws. The
actual results achieved may differ materially from any
forward-looking statements due to these risks and uncertainties.
These statements are based on our current expectations and speak
only as of the date of such statements.
Contacts: Newstrack Communications (587) 987-8585
Hypower Fuel (CE) (USOTC:HYPF)
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