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Advantage Announces Commencement of its Substantial Issuer Bid for up to $100,000,000
Advantage Announces Commencement of its Substantial Issuer Bid for up to $100,000,000 ...
About this update from Advantage Energy Ltd
[{"type":"text","content":"\n \n \n \n Advantage Announces Commencement of its Substantial Issuer Bid for up to $100,000,000\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n (TSX: AAV)\n \n \n \n \n \n CALGARY, AB\n \n \n ,\n \n \n Nov. 10, 2022\n \n \n /CNW/ - Advantage Energy Ltd. (\"Advantage\" or the \"Corporation\") announces that is has commenced its previously announced substantial issuer bid (the \"Offer\") to purchase for cancellation up to\n \n $100,000,000\n \n of its common shares (the \"Shares\").  The Offer will remain open for acceptance until\n \n 5:00 p.m. (Eastern Standard Time)\n \n on\n \n December 16, 2022\n \n , or at such later time and date to which the Offer may be extended or varied by the Corporation, unless withdrawn.\n \n \n The Offer will proceed by way of a modified Dutch auction and holders of Shares (\"Shareholders\") wishing to tender to the Offer may do so pursuant to: (i) auction tenders in which the tendering Shareholders specify the number of Shares being tendered at a specified price of not less than\n \n $11.20\n \n and not more than\n \n $12.90\n \n per Share in increments of\n \n $0.10\n \n per Share; or (ii) purchase price tenders in which the tendering Shareholders do not specify a price per Share, but rather agree to have a specified number of Shares purchased at the purchase price to be determined as provided in the Offer (the \"Purchase Price\"). Shareholders who validly tender Shares without specifying the method in which they are tendering their Shares, will be deemed to have made a purchase price tender. The Purchase Price will be the lowest price (which will not be less than\n \n $11.20\n \n per Share and not more than\n \n $12.90\n \n per Share) that enables the Corporation to purchase Shares up to the aggregate amount of\n \n $100,000,000\n \n , determined in accordance with the terms of the Offer.  All Shares purchased by Advantage pursuant to the Offer (including Shares tendered at auction prices below the Purchase Price) will be purchased at the same Purchase Price.\n \n \n On\n \n No...