Ginger Beef Corporation Announces Plans to Repurchase Common Shares

Wed. September 30, 2009; Posted: 04:10 PM

CALGARY, ALBERTA, Sep 30, 2009 (Marketwire via COMTEX) -- GB | Quote | Chart | News | PowerRating -- GB (TSX VENTURE:GB) (the "Corporation" or "Ginger Beef") announces that it has filed with the TSX Venture Exchange a Notice of Intention to Make a Normal Course Issuer Bid which shall commence on October 2, 2009 and terminate on October 1, 2010 or the earlier of the date all shares which are subject to the Normal Course Issuer Bid are purchased.

In the opinion of the Board of Directors of Ginger Beef, the market price of the Common Shares of Ginger Beef does not accurately reflect the value of those shares. As a result, the Corporation intends to repurchase Ginger Beef's Common Shares that may become available for purchase at prices, which make them an appropriate use of funds of the Corporation.

Ginger Beef intends to attempt to acquire up to an aggregate of 708,599 of its Common Shares over the next 12-month period, representing approximately 5% of the issued and outstanding Common Shares of Ginger Beef.

Purchases subject to the Normal Course Issuer Bid will be carried out pursuant to open market transactions through the facilities of the TSX Venture Exchange. The Member through which the Normal Course Issuer Bid will be conducted is Raymond James Ltd., Calgary, Alberta. All Common Shares purchased by Ginger Beef under the Normal Course Issuer Bid will be cancelled.

SOURCE: Ginger Beef Corporation

Ginger Beef Corporation
Stanley Leung
President and Chief Executive Officer
(403) 272-8088
(403) 234-0688 (FAX)
gingerbeef00@hotmail.com
Ginger Beef Corporation
Michael Poon
Chief Financial Officer
(403) 272-8088
(403) 263-9012 (FAX)
mpoon@gingerbeefcorp.com

For full details on Greatbatch Inc (GB) click here. Greatbatch Inc (GB) has Short Term PowerRatings of 4. Details on Greatbatch Inc (GB) Short Term PowerRatings is available at This Link.

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