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| Financial
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| Boomerang Tracking Inc. announces its intention to make normal course issuer bid
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Boomerang Tracking Inc.
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Press Release
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Serge Laporte
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4/29/2002
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Boomerang Tracking Inc. (the "Company") (TSE: BMG) announced today that it has filed a notice of its intention to commence a normal course issuer bid through the facilities of The Toronto Stock Exchange. The Company had a total of 22,330,000 Class A Shares outstanding as at April 25, 2002, and intends to purchase for cancellation up to a maximum of 1,116,500 Class A Shares, being approximately 5% of the Company''s issued and outstanding Class A Shares. The issuer bid will take effect on May 1st, 2002 and expire no later than April 30th, 2003. The Company believes that its performance and underlying value have not been fully reflected in the trading prices for its Class A Shares.
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| Boomerang
Tracking Inc. markets and distributes the Boomerang®
tracking devices, proprietary products using technology
patented by the Company. The Boomerang, Boomerang2™
and GSM-based units are the central devices in
a system that uses the wireless networks of major
regional telecommunications companies for tracking
stolen assets. The Boomerang Tracking System is
capable of locating stolen automobiles, heavy
equipment and valuable assets. As a result of
its success, the Company has received the endorsement
of members of the insurance industry. The Boomerang
devices are available and installed through a
network of authorized dealers in Quebec and Ontario.
The Company's head office, research and development
centre and manufacturing facilities are located
in Montreal, Quebec, with regional facilities
located in Mississauga, Ontario and Orange County,
California. Boomerang is a registered trademark
and Boomerang2 is a trademark of Boomerang Tracking
Inc. The shares of Boomerang Tracking Inc. trade
on The Toronto Stock Exchange under the symbol
BMG. |
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