Seaway Energy Services Inc. (TSXV: SEW) filed a Notice of Intention and received approval from the Toronto Stock Exchange to commence a normal course issuer bid on February 14, 2011. Under the bid, the company will repurchase up to 3,098,847 common shares, representing approximately 10% of its total issued share capital as well as total shares in public float. Repurchases will be made on the TSX Venture Exchange at a price which will be the market price at the time of acquisition. Seaway believes that its common shares have been trading in a price range which may not adequately reflect their value in relation to Seaway's business and its future business prospects. The actual number of common shares which may be purchased and the timing of any such purchases will be determined by Seaway. The bid will commence on February 17, 2011 and will end on February 17, 2012. As of February 14, 2011, the company has 30,988,470 shares in issue. Till June 30, 2011, the company has repurchased 761,000 shares, representing 2.46% for a total cost of CAD 0.04 million. As of August 27, 2011, the company has repurchased 921,000 shares, representing 2.97% for a total cost of CAD 0.05 million. Seaway Energy Services Inc.'s normal course issuer bid expired on February 17, 2012. Under the bid, the company has repurchased 2,111,000 shares, representing 6.81% for CAD 0.08 million.