News releases
Vancouver, BC – July 6, 2010 – Destiny Media Technologies (OTCBB: DSNY)
is pleased to announce that the share repurchase program announced on
November 30, 2009 has been expanded to a total of 2.5 million shares,
representing approximately 5% of the shares outstanding. Completion of
the first 1 million share tranche was announced on May 28th.
The board of directors has authorized a second tranche to repurchase up
to 1.5 million shares of the company's common stock at a maximum share
purchase price of $0.80 per share. The repurchases will be at times and
in amounts as the company deems appropriate and will be made through
open market transactions. All repurchases will be made in compliance
with the Securities and Exchange Commission's Rule 10b-18, subject to
market conditions, applicable legal requirements and other factors. The
board approved stock repurchase program runs through June 30th, 2011. In
addition to the applicable securities laws, the company will not make
any purchases during a time at which its insiders are subject to a
blackout from trading in the company's common shares.
About Destiny Media Technologies
Destiny Media (http://www.dsny.com) is the developer of the Play MPE®
system (http://www.plaympe.com) which the recording industry uses to
securely distribute new pre-release music through the internet to
trusted recipients such as radio, media and VIP's. Real time usage
statistics are available at
http://www.plaympe.com/v4/company/plaympestats.php
Company Contact:
Steve Vestergaard
CEO Destiny Media Technologies, Inc.
604 609 7736 x222
steve@dsny.com
Safe Harbor Statement:
"Safe Harbor" statement under the Private Securities Litigation Reform
Act of 1995: This release contains forward looking statements that are
subject to risks and uncertainties, including, but not limited to, the
impact of competitive products and pricing, product demand and market
acceptance, new product development, reliance on key strategic
alliances, availability of raw materials, the regulatory environment,
fluctuations in operating results and other risks detailed from time to
time in the Company's filings with the Securities and Exchange Commission.
