Leading Brands Announces US$500,000 Increase In Its Share Repurchase Program
VANCOUVER, British Columbia, Nov. 19, 2010 (GLOBE NEWSWIRE) -- Leading Brands, Inc. (Nasdaq:LBIX), North America's only fully integrated healthy branded beverage company, announces that its Board of Directors has authorized an increase in its share repurchase program of an additional US$500,000. As of today the Company has 3,795,886 common shares outstanding, after deducting shares recently purchased for return to treasury.
On September 9, 2009 the Company announced its initial share repurchase program of US$500,000 and since that time has acquired 195,739 post-consolidation shares at an average price of US$2.43 per share. The repurchase program has been increased as the Company believes its shares remain undervalued and that this increase in the program will not impact the Company's ability to execute its business plan.
The repurchase program will continue concurrent with this announcement and expire upon the expenditure of the committed amount. It is subject to applicable laws, the insider-trading windows imposed by the Company's trading policy and may be suspended or terminated at any time by the Company's Board, without prior notice. Under the program, the Company may, but is not required to, purchase its shares from time to time through open market or privately negotiated transactions, as market and business conditions permit. Any repurchased shares will be returned to authorized but unissued shares of its common stock.About Leading Brands, Inc. Leading Brands, Inc. (Nasdaq:LBIX) is North America's only fully integrated healthy beverage company. Leading Brands creates, designs, bottles, distributes and markets its own proprietary premium beverage brands via its unique Integrated Distribution System (IDS)™ which involves the Company finding the best and most cost-effective route to market. The Company strives to use the best natural ingredients hence its mantra: Better Ingredients – Better Brands. The Leading Brands, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=2681 Forward Looking Statements
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