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ECN Capital enters automatic securities purchase plan

ECN Capital Corp. entered into an automatic securities purchase plan with a broker to facilitate repurchases of its outstanding common shares.

The share repurchases are being made in connection with the company's previously established normal course issuer bid that commenced July 5. Under the bid, which commenced July 5, the company is authorized to repurchase for cancellation up to 36,999,219 common shares. As of Dec. 21, the company has purchased 9,687,400 common shares under the bid.

The automatic securities purchase plan has been approved by the Toronto Stock Exchange and will be implemented effective Dec. 22.