TORONTO, ONTARIO -- (Marketwire) -- 11/06/08 -- Telehop Communications Inc. ("Telehop") (TSX VENTURE: HOP) today announced that it intends to make a normal course issuer bid for up to 650,000 common shares, which is approximately 5% of the 13,413,500 issued and outstanding common shares. Telehop's normal course issuer bid will be made in accordance with the by-laws, rules and policies of the Toronto Stock Exchange. The Company plans to begin purchasing common shares at prevailing market prices over a twelve-month period commencing on, or about, November 10, 2008. Purchases under the bid can be made from time to time over a twelve-month period, as appropriate opportunities arise.
Telehop believes that the market price of its common shares may not reflect their underlying value and that the purchase of its common shares may represent an appropriate and desirable use of the company's funds. Telehop intends to fund the purchases out of available cash.
About Telehop Communications Inc.
Telehop is licensed by the CRTC and provides a complete range of value-priced telecommunications services to Canadians in both residential & business markets. Telehop offers its branded 10-10-620 and the 10-10-100 Dial Around Services, Telehop Long Distance Subscriber Services and 'Equal Access' Long Distance and alternative Directory Assistance Programs. Telehop also provides toll free numbers, Cellular Long Distance, Virtual Calling Cards and the Telehop Home Phone VOIP flat rate service.
From time to time, we make written or oral forward-looking statement within the meaning of applicable Canadian securities legislation. We may make such statements in this press release, in other filings with Canadian regulators, in reports to shareholders or in other communications. These forward-looking statements include, among others, statements with respect to our intention to purchase up to 650,000 of our Common Shares pursuant to the Notice of Intention to Make a Normal Course Issuer Bid filed with the Toronto Stock Exchange. By their very nature, forward-looking statements involve numerous factors and assumptions, and are subject to inherent risks and uncertainties, both general and specific, which give rise to the possibility that predictions, forecasts, projections and other forward-looking statements will not be achieved. We caution readers not to place undue reliance on these statements as our actual results may differ materially from our expectations if known and unknown risks or uncertainties affect our business, or if our estimates or assumptions prove inaccurate. Therefore, we cannot provide any assurance that forward-looking statements will materialize. Unless otherwise required pursuant to applicable Canadian securities legislation, we assume no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or any other reason.