Manitok Energy Inc. says that, subject to TSX Venture Exchange acceptance, it intends to conduct a normal course issuer bid (the "Bid") to purchase for cancellation up to 6.5 million common shares in the capital of Manitok (Common Shares), representing 10% of its Public Float (as such term is defined under the Exchange Corporate Finance Manual).

Manitok plans to fund the Bid with its funds from operations and available financing under its credit facility. The Bid will be conducted through the facilities of the Exchange. The Bid is being launched because management is of the view that the purchase of its Common Shares at the appropriate level will help create additional value for Manitok's shareholders.

It is expected that the Bid will commence on June 18, 2013 and will continue until June 17, 2014 or such earlier date as Manitok has purchased the maximum of 6.5 million Common Shares. Manitok has retained Integral Wealth Securities Limited as its broker to conduct the Bid on Manitok's behalf.

Tags: Manitok Energy Inc.