The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.Except for the historical information contained herein, this press release contains statements that constitute forward-looking statements, as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that may cause or contribute to such differences include, among other things, the Company’s ability to close the proposed transaction. Other risks and uncertainties include changes in business conditions and the economy in general, changes in governmental regulations, unforeseen litigation and other risk factors identified in the Company’s public filings under “Risk Factors.” The Company undertakes no obligation to update these forward-looking statements for revisions or changes after the date of this press release. On behalf of ANTHONY CLARK INTERNATIONAL INSURANCE BROKERS LTD. “Tony Consalvo” Tony Consalvo, C.E.O.
ANTHONY CLARK INTERNATIONAL INSURANCE BROKERS LTD. (TSX Venture Exchange: ACL; Pink Sheets: ACKBF) (the "Corporation") announces that it has received the necessary regulatory approval from the TSX Venture Exchange (the "Exchange") to make a normal course issuer bid. The Corporation intends to purchase up to 954,063 of its common shares by way of normal course purchases on the Exchange, representing 10% of the public float on May 12, 2011. The purchases may commence on May 19, 2011 and will terminate on May 18, 2012 or on such earlier date as the Corporation completes its purchases. Purchases will be made by the Corporation in accordance with Exchange requirements and the price which the Corporation will pay for any such common shares will be the market price of such shares at the time of acquisition. All purchases will be effected through the facilities of the Exchange. All purchased common shares will be cancelled. Union Securities Ltd. has been retained by the Corporation to conduct the normal course issuer bid on behalf of the Corporation. Under its previous normal course issuer bid from May 14 th, 2010 to May 13 th, 2011, the Corporation purchased 446,000 of its common shares representing approximately 4.67% of the Corporation's outstanding common shares as at May 11 th, 2010, for an average price of $0.33 per common share. The Corporation believes that the market price of its common shares could be such that their purchase may be an attractive and appropriate use of corporate funds in light of potential benefits to remaining shareholders. To the knowledge of the Corporation, no director, senior officer or other insider of the Corporation currently intends to sell any common shares under this bid. However, sales by such persons through the facilities of the Exchange may occur if the personal circumstances of any such person changes or any such person makes a decision unrelated to these normal course purchases. The benefits to any such person whose shares are purchased would be the same as the benefits available to all other holders whose shares are purchased.