VANCOUVER, BRITISH COLUMBIA — (Marketwire) — 08/15/12 — WordLogic Corporation (OTCQB: WLGC), a predictive intelligence technology company that markets patented solutions for the mobile, tablet, and desktop computer industry, announced that its Board of Directors has authorized the Company to repurchase up to 5,000,000 shares of WordLogic- outstanding common stock over a 12-month period commencing on August 20, 2012. Purchases would be made from time to time in the open market and through privately-negotiated transactions, subject to general market and other conditions.
Mr. Frank Evanshen, President and CEO of WordLogic, stated, “We-re pleased that the strength of our business fundamentals allows us to demonstrate our confidence through this stock repurchase program. This investment by the Company reflects our positive outlook on our cash-flow and earnings going forward.”
Any repurchased shares will have the status of treasury shares and may be used, if and when needed, for general corporate purposes. WordLogic has no obligation to repurchase shares under the authorization, and the timing, actual number and value of the shares which are repurchased will be at the discretion of management and will depend on a number of factors, including the price of the Company-s common stock. The Company may suspend or discontinue repurchases at any time.
About WordLogic
WordLogic Corporation (OTCQB: WLGC) develops, markets, licenses and sells advanced predictive platform software designed to accelerate information discovery and text input. The Company-s innovations operate on a wide variety of devices, including smartphones, PCs, cell phones, Smart TV, media players, automotive navigational systems, infotainment and game consoles. The Company-s intellectual property portfolio includes six issued U.S. and European patents and three pending U.S. patent applications.
For more information about WordLogic Corporation, visit . To send a message via Twitter, contact us at , or visit us on Facebook, . WordLogic headquarters are located at 1130 West Pender Street, Suite 230, Vancouver, BC, Canada.
Except for the historical information contained herein, the matters discussed in this news release are forward-looking statements and are subject to risks and uncertainties. See WordLogic-s filings with the US Securities and Exchange Commission which identify specific factors that may cause actual results or events to differ materially from those described in the forward-looking statements.
Contacts:
WordLogic Corporation
Investor Relations
1.866.WORDLOGIC (main office)
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