Capstone
Announces Normal Course Issuer Bid
July
15, 2008
VANCOUVER,
B.C. � Capstone Mining Corp. (�Capstone�) announces that it intends to make a
normal course issuer bid (the "Bid"), to purchase, through the
facilities of the Toronto Stock Exchange (the �TSX�), certain of its
outstanding common shares, subject to the acceptance of the TSX. As at
June 30, 2008, there were 82,451,076 common shares issued and outstanding.
The number of
common shares to be purchased through the facilities of the Exchange during
the period of the Bid from July 17, 2008 to July 16, 2009 will not exceed
7,992,037 Common Shares, or approximately 10% of the public float outstanding
on June 30, 2008, namely 82,451,076 Common Shares. Daily purchases will
be limited to 62,940 common shares, other than block purchase exceptions.
Common shares purchased pursuant to the Bid will be cancelled.
Capstone
believes that the market price of the common shares may, at certain times
throughout the duration of the normal course issuer bid, be undervalued.
The purchase of the common shares will increase the book value per common
shares thereby resulting in share value appreciation for shareholders.
In the
preceding 12 month period, Capstone purchased 1,519,500 of its common shares
at a weighted average price of $2.64 per share under a normal course issuer
bid.
ON
BEHALF OF THE BOARD
Darren
M. Pylot President & CEO
ABOUT
CAPSTONE
Capstone is a
Canadian based mining company currently operating the 100% owned Cozamin
copper-silver-lead-zinc mine located in Zacatecas State, Mexico. Capstone has
approximately 82.4 million shares outstanding and is well financed with no
bank debt. More information is available online at: www.capstonemining.com .
For further
information about the Company, please contact:
Chris Tomanik or Mark Patchett, Telephone: (604) 684-8894 / Facsimile: (604)
688-2180
Email: ctomanik@capstonemining.com
, or mpatchett@capstonemining.com
|