Keweenaw Land Association Announces New Stock Repurchase Program
IRONWOOD, Mich., Dec. 18, 2019 (GLOBE NEWSWIRE) — Keweenaw Land Association, Limited (OTC: KEWL) (“Keweenaw” or the “Company”) announced today that its Board of Directors has authorized a stock repurchase program. Under this program, Keweenaw may repurchase up to $1 million in aggregate value of its shares of Common Stock.
In connection with the repurchase program, Keweenaw has entered into a 10b5-1 plan during an open trading window while it was not in possession of material non-public information to facilitate the repurchases of its Common Stock. The shares may be repurchased from time to time in open market transactions at prevailing market prices or by other means in accordance with federal securities laws. The actual timing, number and value of shares repurchased under the program will be determined by the plan broker in its discretion and will depend on a number of factors, subject to the 10b5-1 trading plan. The program may be discontinued at any time. Paula J. Aijala, Secretary, Keweenaw Land Association, Limited, investors@keweenaw.comAbout Keweenaw Land Association, Limited: Keweenaw is a forest products and land management company located in Ironwood, Michigan. Keweenaw has land holdings exceeding 183,561 surface acres and 401,837 acres of mineral rights, located predominantly in the western Upper Peninsula of Michigan and northern Wisconsin. Additional information is available on the Company’s website at www.keweenaw.com.Forward-Looking StatementsForward-Looking Statements: This release contains forward-looking statements. These forward-looking statements are subject to a number of risks and uncertainties and should not be relied upon as predictions of future events or promises of a given course of action. A number of factors such as changing economic conditions, price fluctuations, land use, environmental and other governmental regulations, and risk of loss from natural disasters, could cause actual results to differ materially from those described in the forward-looking statements. As with any investment, past performance is not a guarantee of future results. The Company is currently not subject to the filing requirements of the Securities Exchange Act of 1934, as amended. The Company is categorized as “Pink Current Information” under the OTC Pink Sheets.
In connection with the repurchase program, Keweenaw has entered into a 10b5-1 plan during an open trading window while it was not in possession of material non-public information to facilitate the repurchases of its Common Stock. The shares may be repurchased from time to time in open market transactions at prevailing market prices or by other means in accordance with federal securities laws. The actual timing, number and value of shares repurchased under the program will be determined by the plan broker in its discretion and will depend on a number of factors, subject to the 10b5-1 trading plan. The program may be discontinued at any time. Paula J. Aijala, Secretary, Keweenaw Land Association, Limited, investors@keweenaw.comAbout Keweenaw Land Association, Limited: Keweenaw is a forest products and land management company located in Ironwood, Michigan. Keweenaw has land holdings exceeding 183,561 surface acres and 401,837 acres of mineral rights, located predominantly in the western Upper Peninsula of Michigan and northern Wisconsin. Additional information is available on the Company’s website at www.keweenaw.com.Forward-Looking StatementsForward-Looking Statements: This release contains forward-looking statements. These forward-looking statements are subject to a number of risks and uncertainties and should not be relied upon as predictions of future events or promises of a given course of action. A number of factors such as changing economic conditions, price fluctuations, land use, environmental and other governmental regulations, and risk of loss from natural disasters, could cause actual results to differ materially from those described in the forward-looking statements. As with any investment, past performance is not a guarantee of future results. The Company is currently not subject to the filing requirements of the Securities Exchange Act of 1934, as amended. The Company is categorized as “Pink Current Information” under the OTC Pink Sheets.
