Business
Adcore Purchases 2,171,400 Common Shares for Cancellation
TORONTO, ON / ACCESSWIRE / June 13, 2022 / Adcore Inc. (the " Company " or " Adcore ") (TSX:...
About this update from Adcore Inc
[{"type":"text","content":"Adcore Purchases 2,171,400 Common Shares for CancellationTORONTO, ON / ACCESSWIRE / June 13, 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 it has entered into an agreement to purchase for cancellation 2,171,400 common shares of the Company (\"Common Shares\"), representing 3.4% of the issued and outstanding Common Shares, from a former executive officer of the Company at a price of $0.20 per Common Share. The transaction constitutes an exempt issuer bid pursuant to National Instrument - 62-104 of the Canadian Securities Administrators. Following completion of the acquisition and the cancellation of the Common Shares acquired, based on current numbers, the Company will have 61,613,021 Common Shares issued and outstanding.The board of directors of the Company (the \"Board\") believes that the market price of the Common Shares does not fully reflect their value and accordingly, the purchase of Common Shares is in the best interests of the Company and its shareholders and represents an attractive and appropriate use of available funds.ABOUT ADCOREAdcore is empowering entrepreneurs, advertisers, and the future of e-commerce through its advertising management and automation platform. By combining extensive industry knowledge and experience with its proprietary artificial intelligence engine, Adcore offers a unique digital marketing solution that empowers entrepreneurs and advertisers by managing and automating their e-commerce store advertising and monitoring and analyzing the performance of their advertising budget to ensure maximum Return on Investment. In addition to being named numerous times on Deloitte's Fast 50 Technology list, Adcore is a certified Google Premier Partner, Elite Tier Microsoft Partner, Facebook Partner and TikTok Partner.Established in 2006, the Company employs over fifty people in its headquarters in Tel Aviv, Israel and satellite offices in Toronto, Canada, Melbourne, Australia, Hong Kong and Shanghai, China.For more information about Adcore, please visit https://www.adcore.com/investors/, https://www.adcore.com/blog or follow us on LinkedInABOUT AMPHYFounded in 2021 in the mids...