Leading Brands, Inc. (LBIX) announced the commencement of its formerly announced modified "Dutch auction" tender offer to repurchase up to $800,000 of its common shares at a price per share not less than $4.10 and not greater than $5.00. The tender offer will expire at 5:00 p.m., New York City time, on June 18, 2012, unless extended by the company.
Leading Brands noted that tenders of shares must be made on or prior to the expiration of the tender offer and may be withdrawn at any time prior to the expiration of the tender offer, in each case, in accordance with the procedures described in the tender offer materials.
The company stated that its directors and executive officers and entities associated with them will not tender any of their common shares in the tender offer.
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