Lucky Punch Inc.
Lucky Punch Inc.: Expansion of Production Facility / Share Buyback
Lucky Punch Inc. / Key word(s): Share Buyback/Miscellaneous In addition to the conclusion of the assumption of three new properties (salt mines) in northern Chile, Lucky Punch announces the extension of the manufacturing plant for lithium-ion and lithium-polymer accumulators in China. Due to the yield of the three newly purchased salt mines in Chile Lucky Punch estimates an enterprise-internal increase of the production volume of lithium of approx. 12.5%. In order to be able to handle this rise at raw material and not being obliged to the use of third parties, the manufacturing plant for the production of the accumulators in China is being increased. The additional purchase of a further production facility with a size of approx. 450 m ² and the favorable acquisition of further machines manufactured in China thus stand on a healthy foundation. The production halls are strategically well located with its direct access to the container terminal in the Chinese port of Xiamen. Along with the conclusion of the acquisition of the mines the company aims at a share buyback. Due to the chart development of the past weeks, the size of the package, as well as the price being paid per share were not announced so far, however Mr. Hugo Pinto stated before local press in Calgary recently as follows: ‘The development of the production facilities becomes absolutely necessary due to the immediate impending acquisition of the mines in Chile and is therefore the only correct decision. Hereby we continue to develop consistently our market position within the range of the production of Lithium. I can say that the company plans a share buyback program, nevertheless I will not yet comment upon basic data such as amount of shares and price per share, facts that are still strongly depending on the further chart development of the share of the Lucky Punch Inc. One thing is for sure though, we will come to a result that will satisfy as well the interests of our shareholders as that of the company.’ Lucky Punch Inc. is a Canadian Explorer with it’s focus in lithium and rare-earth metals. For further information please contact: End of Corporate News 22.09.2011 Dissemination of a Corporate News, transmitted by DGAP – a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP’s Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de |
140133 22.09.2011 |