VANCOUVER, British Columbia, June 26, 2012 /PRNewswire/ -- Teryl Resources Corp. (TSX Venture Exchange: TRC.V), (OTCBB: TRYLF) announces that in accordance with the policies of the TSX Venture Exchange ("TSX.V"), it intends to make a normal course issuer bid in respect of its common shares through the facilities of the TSX.V. It proposes to purchase at market price up to 7,000,000 common shares, being approximately 10% of its public float over a twelve month period. The bid is subject to regulatory approval. The actual number of common shares which may be purchased and the timing of any such purchases will be determined by the Company in accordance with the requirements of the TSX.V.
Management of the Company believes that its common shares have been trading in a price range which does not adequately reflect their value in relation to the Company's business and its future business prospects. As a result, depending upon future price movements and other factors, management believes that its outstanding common shares may represent an attractive investment and the cost of acquiring the shares is an expense prudently incurred by the Company to increase shareholder value.
ABOUT TERYL RESOURCES
Teryl Resources Corp. symbol TRC.V TSX Venture – has several gold prospects in Alaska near the Kinross Fort Knox Mine, a 100% interest in the Westridge property (located near the Fort Knox mine); a 50% option on the Fish Creek property, adjacent to the Gil property. Teryl sold its 20% interest in the Gil property Fairbanks, Alaska, to date $2.5 million dollars has been received of the $15 million from the 1% NSR of the property, thereafter Teryl retains a 1/2 of 1% royalty for the life of the mine; a 10% net profit interest in the Stepovich claims, near the Fort Knox deposit; and a 40% interest in a silver property located in Northern B.C. adjacent to Silvercorp's silver lead zinc discovery, including a 10% NPI. Teryl has a small revenue interest in three producing oil and gas wells in Texas with Anadarko Petroleum as the operator. See www.terylresources.com website for more detailed information.ON BEHALF OF THE BOARD OF DIRECTORS
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts