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Photon Control Announces Extension of Normal Course Issuer BidRICHMOND, BC, Jan. 2, 2018 /CNW/ - Photon Control Inc. ("Photon Control" or the "Company") (TSX-V: PHO), a leading developer and supplier of optical measurement technologies to the global semiconductor industry, is pleased to announce that the TSX Venture Exchange ("TSX-V") has accepted the Company's notice of intention to make a normal course issuer bid (the "NCIB") for its common shares through the facilities of the TSX-V. On January 4, 2018, the Company may commence making purchases of up to a maximum of 5,500,000 common shares, which represents approximately 5% of the Company's 110,853,718 issued and outstanding common shares as at the close of trading on December 29, 2017. A purchase of common shares under the NCIB also may not, when aggregated with the total of any other purchases in the 30 days preceding the purchase, whether through the facilities of the TSX-V or otherwise, exceed 2% of the total issued and outstanding common shares of the Company at the time the purchase is made. There can be no assurance as to the number of shares, if any, that may be repurchased under the plan or the aggregate dollar amount expended. The Company may discontinue purchases at any time, subject to compliance with applicable regulatory requirements. Said Scott Edmonds, President and CEO, "The Company's priorities for capital deployment are first funding product development for growth, followed by M&A acivity, and thirdly ongoing share repurchases. The Company has renewed its NCIB to ensure the ability to pursue such opportunities as authorized by its Board of Directors. The normal course issuer bid will terminate on the earlier of the date determined by the Company and January 3, 2019." About Photon Control Inc. Forward-Looking Statements Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. SOURCE Photon Control Inc. |