TransForce announces renewal of normal course issuer bid

MONTREAL, Aug. 1, 2013 /CNW Telbec/ - TransForce Inc. (TSX: TFI), a North American leader in the transportation and logistics industry, today announced that the Toronto Stock Exchange ("TSX") has approved the renewal of TransForce's previously-announced normal course issuer bid ("NCIB"). Under the renewed NCIB, TransForce has the right to purchase for cancellation, from August 2, 2013 to August 1, 2014, a maximum of 6,000,000 common shares, representing 6.9% of the 86,976,830 shares forming TransForce's public float. As of July 24, 2013, TransForce had 91,979,723 common shares issued and outstanding.

Any shares purchased by TransForce under the renewed NCIB will be at the market price of the shares at the time of such purchases. The actual number of shares that may be purchased and the timing of any such purchases will be determined by TransForce. Any purchases made by TransForce pursuant to the renewed NCIB will be made in accordance with the rules and policies of the TSX.

During the most recently-completed six months, the average daily trading volume for the common shares of TransForce on the TSX was 291,399. Consequently, under the policies of the TSX, TransForce will have the right to repurchase under the renewed NCIB, during any one trading day, a maximum of 72,849 shares, representing 25% of the average daily trading volume. In addition, TransForce will be allowed to make, once per calendar week, a block purchase (as such term is defined in the TSX Company Manual) of shares not directly or indirectly owned by insiders of TransForce, in accordance with the policies of the TSX.

In connection with the renewed NCIB, TransForce intends to enter into an automatic share purchase plan with National Bank Financial Inc. in order to allow for purchases under the NCIB during TransForce's "black-out" periods, as permitted by the TSX Company Manual and the Securities Act (Québec).

ABOUT TRANSFORCE
TransForce Inc. is a North American leader in the transportation and logistics industry operating across Canada and the United States through its subsidiaries. TransForce creates value for shareholders by identifying strategic acquisitions and managing a growing network of wholly-owned, operating subsidiaries. Under the TransForce umbrella, companies benefit from corporate financial and operational resources to build their businesses and increase their efficiency. TransForce companies service the following segments:

• Package and Courier; 
• Less-Than-Truckload; 
• Truckload, which includes specialized truckload and dedicated services;
• Specialized Services, which includes services to the energy sector, waste management, logistics and ancillary transportation services.
  
  

TransForce Inc. (TFI) is publicly traded on the Toronto Stock Exchange (TSX). For more information, visit http://www.transforcecompany.com.

FORWARD-LOOKING STATEMENTS
Except for historical information provided herein, this press release may contain information and statements of a forward-looking nature concerning the future performance of TransForce. These statements are based on suppositions and uncertainties as well as on management's best possible evaluation of future events. Such factors may include, without excluding other considerations, fluctuations in quarterly results, evolution in customer demand for TransForce's products and services, the impact of price pressures exerted by competitors, and general market trends or economic changes. As a result, readers are advised that actual results may differ from expected results.

SOURCE: TRANSFORCE INC.

Investors:               
Alain Bédard
Chairman, President and CEO
TransForce Inc.
[phone]
[email protected]

Media:
Rick Leckner
MaisonBrison Communications
[phone]
[email protected]