Placer Dome to buy back shares

When fully exercised, this ordinary course issuer bid would amount to about 7% of Placer Dome’s issued and outstanding shares which is less than 10% of the public float.

The share purchases would take place during a 1-year period ending Sept 27, 1990 as no more than 2% of the outstanding common shares may be purchased during any 30-day period. The price paid would be the prevailing market price at the time of acquisition.

Placer Dome’s management stressed that the use of some funds for the share purchases would not detract from plans to pursue acquisitions in the mining area or affect its intensive mine development program.

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