BOSTON, April 20, 2009 (GLOBE NEWSWIRE) -- Envit Capital Group, Inc. (Pink Sheets:ECGP), a holding company for financial entities, today announced that it has bought 397,888 shares of its common stock in open market transactions, since the inception of its stock repurchase plan announced October 2, 2008.
Total consideration for the purchases was $98,559. The share repurchase plan announced on October 2, 2002 authorized the repurchase from time to time of up to a cumulative maximum of $1,000,000 of the shares of outstanding common stock. As per the announcement on October 2, 2008 the Board of Directors reserves the right to purchase additional shares totaling $901,441 worth of the Company's publicly traded stock (ECGP.PK) in open marker transactions.
The Company also extends to shareholders the continued pursuit to list the company on the OTCBB as soon as possible.
ABOUT
The Envit Capital Group, Inc. (Envit Capital) is a development stage boutique investment banking, securities and investment management firm that will provide a range of services to a client base that will include business, institutions, and high-net-worth individuals. Its objective is to be active in all three of the following segments: Investment Banking, Trading and Principal Investments, and Asset Management and Securities Services.
The Envit Capital Group, Inc. is headquartered in Boston, Massachusetts at 60 State Street; 7th Floor Boston, MA 02110 617-542-3333.
Forward-looking Statements
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: This press release contains or may contain forward-looking statements such as statements regarding the Company's growth and profitability, growth strategy, liquidity and access to public markets, operating expense reduction, and trends in the industry in which the Company operates. The forward-looking statements contained in this press release are also subject to other risks and uncertainties. The Company assumes no obligation to update these forward-looking statements to reflect actual results, changes in risks, uncertainties or assumptions underlying or affecting such statements, or for prospective events that may have a retroactive effect.