MusclePharm Announces New $5 Million Share Repurchase Program
11 December 2013 - 2:00AM
Marketwired
MusclePharm Announces New $5 Million Share Repurchase Program
DENVER, CO--(Marketwired - Dec 10, 2013) - MusclePharm
Corporation (OTCQB: MSLP) (the "Company"), a leading international,
award-winning sports nutrition company, announced that its Board of
Directors has approved a new 1 year, $5 million program to
repurchase shares of MusclePharm's common stock.
"We believe repurchasing our shares is a prudent use of our cash
and believe this initiative is consistent with the goal of
maximizing shareholder value," said Brad Pyatt, President and CEO.
"The new share repurchase program demonstrates our continued
confidence in MusclePharm's strategy to generate long-term
profitable growth and strong cash flow, and reflects our commitment
to delivering value to our shareholders."
Repurchases under MusclePharm's new program will be made in open
market or privately negotiated transactions in compliance with
Rules 10b5-1 and 10b-18 under the Securities Exchange Act of 1934,
subject to market conditions, applicable legal requirements, and
other relevant factors. This share repurchase plan does not
obligate the Company to acquire any particular amount of common
stock, and it may be suspended at any time at the Company's
discretion.
Separately, between November 21, 2013 and December 5, 2013, a
number of the Company's executives and board members purchased an
aggregate of 55,439 shares of the Company's common stock in open
market transactions at prices between $7.70 and $8.65 per
share.
ABOUT MUSCLEPHARM CORPORATION
MusclePharm® is a leading international, award-winning sports
nutrition company offering vitamins and nutritional supplements
which are available in more than 110 countries and available in
35,000+ retail outlets, including Costco, Dick's Sporting Goods, 24
Hour Fitness, Bally's, GNC, Vitamin Shoppe and Vitamin World. The
company's brands are MusclePharm®, Arnold Schwarzenegger™ Series,
and FitMiss™. The comprehensive lines of clinically-proven, safe
and effective nutritional supplements are developed through a
six-stage research process that utilizes the expertise of leading
nutritional scientists, doctors and universities. For more
information, visit www.musclepharmcorp.com. Follow the company at
http://www.facebook.com/MusclePharm and
www.Twitter.com/MusclePharm.
FORWARD-LOOKING STATEMENTS
This release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities and Exchange Act of 1934, as
amended. Statements that are not a description of historical facts
constitute forward-looking statements and may often, but not
always, be identified by the use of such words as "expects",
"anticipates", "intends", "estimates", "plans", "potential",
"possible", "probable", "believes", "seeks", "may", "will",
"should", "could" or the negative of such terms or other similar
expressions. Actual results may differ materially from those set
forth in this release due to the risks and uncertainties inherent
in the Company's business. More detailed information about the
Company and the risk factors that may affect the realization of
forward-looking statements is set forth in the Company's Annual
Report on Form 10-K for the fiscal year ended December 31, 2012,
the Company's Quarter Reports on Form 10-Q and other filings
submitted by the Company to the SEC, copies of which may be
obtained from the SEC's website at www.sec.gov. Readers are
cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date hereof. All
forward-looking statements are qualified in their entirety by this
cautionary statement and the Company undertakes no obligation to
revise or update this release to reflect events or circumstances
after the date hereof.
MusclePharm Investor Contact: The Del Mar Consulting Group, Inc.
Robert B. Prag President Telephone: 858-794-9500 Email: Email
Contact or Alex Partners, LLC Scott Wilfong President Telephone:
425-242-0891 Email: Email Contact
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