Totally Green Announces Stock Repurchase Program
TORONTO, ON -- (Marketwired) -- 01/08/14 -- Totally Green, Inc.
("Totally Green" or the "Company") (PINKSHEETS: TLGN) today announced
that its Board of Directors has approved a stock repurchase program,
authorizing the Company to repurchase, in aggregate, up to 1,000,000
shares of its outstanding common stock.
"Given the prospects for our business, we think our current stock
price is significantly undervalued. We believe the stock buyback
addresses this misalignment and is in the best interests of our
stockholders," said Shawn Dym, Totally Green's Chief Executive
Mr. Dym noted that the Company's prospects currently include
discussions with a number of national chains in the United States and
Canada. Mr. Dym further commented, "We intend and expect to
ultimately prove that our service is the ideal organic waste disposal
solution and are hopeful that it will eventually lead to these
prospects implementing our solution nationally."
Under the program authorized by its Board of Directors, Totally Green
may repurchase shares in open-market purchases. The extent to which
Totally Green repurchases its shares and the timing of such
repurchases will depend upon market conditions and other corporate
considerations, as determined by Totally Green's management team. The
purchases will be funded from existing cash balances.
About Totally Green
Totally Green develops, manufactures and distributes the Organic
Refuse Conversion Alternative (ORCA) Green Machine. The ORCA machine
allows for composting of organic material in institutional commercial
user applications, after which the liquid compost is disposed of
through the ordinary sewer system. The ORCA uses an aerobic
composting process to convert food waste into nutrient rich water
that safely discharges into the sanitary sewer system. The ORCA
significantly accelerates the breakdown of food waste by adding its
micro-organisms solution and bio chips to the digestion process.
For More Information
You can find additional information relating to us on our website
(feedtheorca.com), or by e-mailing your request to
Chief Executive Officer
Totally Green, Inc.
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