Great Canadian Gaming Corp. (TSX: GC) filed a Notice of Intention and received approval from the Toronto Stock Exchange to commence a normal course issuer bid on January 24, 2012. Under the bid, the company will repurchase up to 5,811,197 of its common shares, representing 10% of its public float and 7.04% of its outstanding shares. The repurchases will be made by way of open market through the facilities of the TSX and other Canadian market places, subject to opportunities within the market. The payment for the shares will be in accordance with the TSX's by-laws and rules. No purchases will be made other than by means of open market transactions during the term of the bid and conducted at the market price at the time of acquisition. All shares repurchased will subsequently be cancelled. The bid will be employed opportunistically, alongside the company's needs for operational cash, in order to improve the shareholder value. Pursuant to TSX policies, daily purchases made by the company will not exceed 37,069 common shares, or 25% of the prior six month average daily trading volume of 148,277 common shares on the TSX, subject to certain prescribed exceptions. The bid will commence on January 27, 2012 and end on January 26, 2013, or earlier if the number of shares sought in the issuer bid has been obtained. The company reserves the right to terminate the bid earlier if it feels it is appropriate to do so. As of January 20, 2012, the company has 82,539,058 common shares outstanding.


Great Canadian Gaming Corp.'s normal course issuer bid expired on January 26, 2013. Under the plan, the company has repurchased shares 3,657,210 representing 4.43% for CAD 29.81 million.