Totally Green Announces Stock Repurchase Program
January 08 2014 - 8:00AM
Marketwired
Totally Green Announces Stock Repurchase Program
TORONTO, ON--(Marketwired - Jan 8, 2014) - Totally Green, Inc.
("Totally Green" or the "Company") (PINKSHEETS: TLGN) today
announced that its Board of Directors has approved a stock
repurchase program, authorizing the Company to repurchase, in
aggregate, up to 1,000,000 shares of its outstanding common
stock.
"Given the prospects for our business, we think our current
stock price is significantly undervalued. We believe the stock
buyback addresses this misalignment and is in the best interests of
our stockholders," said Shawn Dym, Totally Green's Chief Executive
Officer.
Mr. Dym noted that the Company's prospects currently include
discussions with a number of national chains in the United States
and Canada. Mr. Dym further commented, "We intend and expect to
ultimately prove that our service is the ideal organic waste
disposal solution and are hopeful that it will eventually lead
to these prospects implementing our solution nationally."
Under the program authorized by its Board of Directors, Totally
Green may repurchase shares in open-market purchases. The extent to
which Totally Green repurchases its shares and the timing of such
repurchases will depend upon market conditions and other corporate
considerations, as determined by Totally Green's management team.
The purchases will be funded from existing cash balances.
About Totally Green
Totally Green develops, manufactures and distributes the Organic
Refuse Conversion Alternative (ORCA) Green Machine. The ORCA
machine allows for composting of organic material in institutional
commercial user applications, after which the liquid compost is
disposed of through the ordinary sewer system. The ORCA uses an
aerobic composting process to convert food waste into nutrient rich
water that safely discharges into the sanitary sewer system. The
ORCA significantly accelerates the breakdown of food waste by
adding its micro-organisms solution and bio chips to the digestion
process.
For More Information
You can find additional information relating to us on our
website (feedtheorca.com), or by e-mailing your request to
ir@totallygreen.com.
Shawn Dym Chief Executive Officer Totally Green, Inc. Tel
416-221-9066
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