DGAP-News: Lucky Punch Inc.: Expansion of Production Facility / Share Buyback
(firmenpresse) - DGAP-News: Lucky Punch Inc. / Key word(s): Share Buyback/Miscellaneous
Lucky Punch Inc.: Expansion of Production Facility / Share Buyback
22.09.2011 / 18:44
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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 m²and 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.
The company is publicly traded at Frankfurt's Open Market under stock
symbol ULP.
For further information please contact:
Kevin Bergman (public relations)
Tel.: +1 403 774 73 20
info(at)luckypunch.ca
www.luckypunch.ca
End of Corporate News
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22.09.2011 Dissemination of a Corporate News, transmitted by DGAP - a
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140133 22.09.2011
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Datum: 22.09.2011 - 18:44 Uhr
Sprache: Deutsch
News-ID 68793
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