Canadian Phoenix Resources Corp. (Toronto Venture: CXP) announced that it has received regulatory approval from to make a normal course issuer bid (NCIB) commencing Sept. 25, 2012, to purchase for cancellation up to 3,824,796 of its common shares, representing 10% of Canadian Phoenix's public float.
The NCIB will end on Sept. 24, 2013, unless the maximum amount of common shares is purchased before then or Canadian Phoenix provides earlier notice of termination.
Haywood Securities Inc. has been selected as Canadian Phoenix's agent for the NCIB.
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