Business
Adcore Announces Intention to Commence Normal Course Issuer Bid
TORONTO, ON / ACCESSWIRE / May 11, 2022 / Adcore Inc. (the " Company " or " Adcore ") (TSX:...
About this update from Adcore Inc
[{"type":"text","content":"Adcore Announces Intention to Commence Normal Course Issuer BidTORONTO, ON / ACCESSWIRE / May 11, 2022 / Adcore Inc. (the \"Company\" or \"Adcore\") (TSX:ADCO) (OTCQX:ADCOF) (FSE:ADQ) (TSX:ADCO-WT), a leading e-commerce advertising management and automation platform to leverage digital marketing in an effortless and accessible way (\"Effortless Marketing\"), announced today that the Company intends to make a normal course issuer bid (the \"NCIB\") to purchase up to 3,188,475 common shares of the Company (\"Common Shares\").The Company reviews all elements of its capital allocation strategy on an ongoing basis. Management and the board of directors of the Company (the \"Board\") believe that the market price of the Common Shares may not, from time to time, fully reflect their value and accordingly, the purchase of Common Shares would be in the best interests of the Company and its shareholders and represents an attractive and appropriate use of available funds.The NCIB has been approved by the Board; however it is subject to acceptance by the Toronto Stock Exchange (the \"TSX\"), and if accepted, will be made in accordance with the applicable rules and policies of the TSX and Canadian securities laws. Under the NCIB, the Company would be permitted to purchase for cancellation, through the facilities of the TSX, up to 5% of the issued and outstanding Common Shares (calculated in accordance with TSX rules), or 3,188,475 common shares. The exact number of Common Shares subject to the NCIB will be determined on the date of acceptance of the notice of intention by the TSX.All Common Shares under the NCIB will be purchased at prevailing market prices in accordance with the rules and policies of the TSX and applicable securities laws. The actual number of Common Shares that may be purchased, and the timing of any such purchases, will be determined by the Company, subject to the applicable terms and limitations of the NCIB. All Common Shares acquired by the Company under the NCIB will be cancelled.Subject to acceptance by the TSX of the NCIB, the Company intends to commence the NCIB on Wednesday, May 18th, 2022. The NCIB will terminate one year after its commencement, or earlier if the maximum number of Common Shares under the NCIB have been purchased. Although the Company has a present intention to acquire its Common Shares pursuant to ...