Wildpack announces Normal Course Issuer Bid
Wildpack Beverage Inc announced that the TSX Venture Exchange has accepted its Notice of Intention to implement a Normal Course Issuer Bid to be transacted through the facilities of the Exchange.
Mitch Barnard, Chief Executive Officer said: “We believe the shares trade in a range that presents an attractive use of our capital and do not reflect the current value of Wildpack’s production and financial assets and the business prospects for our future.”
Pursuant to the NCIB, Wildpack may, during the 12-month period commencing March 3, 2022, and ending March 2, 2023, purchase up to 5,049,096 Common Shares being up to 5% of Wildpack’s outstanding common shares as at February 28, 2022.
The price which Wildpack will pay for any such shares will be the prevailing market price at the time of acquisition.
The number of Shares which may be purchased pursuant to the NCIB and the timing of any such purchases will be determined by management.
Purchases under the NCIB will be made from time to time by Stifel Nicolaus Canada Inc. on behalf of Wildpack.
All Shares purchased pursuant to the NCIB will be returned to treasury for cancellation.
The Board of Directors of Wildpack has implement the NCIB because it believes, from time to time, the market price of the Shares may not fully reflect the underlying value of Wildpack’s business and its future prospects.
Accordingly, Wildpack believes purchasing its common shares may represent an appropriate and desirable use of corporate funds and represents an opportunity to enhance shareholder value. Wildpack has not purchased any of its common shares in the previous twelve-month period.