TORONTO, July 23, 2018 (GLOBE NEWSWIRE) -- GobiMin Inc. (TSXV:GMN) (the “Company” or “GobiMin”) announces that the TSX Venture Exchange (“TSXV”) has accepted its Notice of Intention to Make a Normal Course Issuer Bid in connection with the Company’s renewal of its normal course issuer bid (the “Bid”).

Under the Bid in 2018, a total of up to 2,500,274 common shares may be purchased through the facilities of the TSXV, representing 5% of the issued and outstanding common shares of the Company, and any such purchases will be at market prices. The Bid will commence on or after July 25, 2018 and will end on July 24, 2019 or on such earlier date as GobiMin may complete its purchases pursuant to the Bid or as it may otherwise determine.

GobiMin is continuing to engage in the Bid because it believes that the market price of its common shares does not properly reflect its underlying value. Purchases pursuant to the Bid will be conducted through Desjardins Securities Inc. Under the Bid in 2017, GobiMin has purchased 566,000 common shares at an average price of CAD0.538 for cancellation.

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“Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.”

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