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AirIQ Announces Renewal of Normal Course Issuer Bid
TORONTO, ON / ACCESSWIRE / April 13, 2021 / AirIQ Inc. ("AirIQ") (TSXV:IQ), a supplier of ...
About this update from Airiq Inc.
[{"type":"text","content":"AirIQ Announces Renewal of Normal Course Issuer BidTORONTO, ON / ACCESSWIRE / April 13, 2021 / AirIQ Inc. (\"AirIQ\") (TSXV:IQ), a supplier of wireless asset management services, today announced that the TSX Venture Exchange (the \"TSXV\") has accepted the Company's application to renew its normal course issuer bid (the \"Bid\"). Pursuant to the Bid, the Company proposes to purchase through the facilities of the TSXV, up to 1,504,253 common shares representing 5% of the Company's currently issued and outstanding common shares. The Bid will occur over a twelve-month period commencing on April 13, 2021 and ending on April 12, 2022.AirIQ is renewing the Bid because the Company's Board of Directors believes that the market price of the Company's common shares does not fully reflect the underlying value of the Company's assets and future prospects, and that repurchasing the Company's common shares is one way of creating shareholder value.All purchases made pursuant to the Bid will be made through the facilities of the TSXV in open market transactions or by such other means as may be permitted under applicable securities laws. Hampton Securities Limited has been selected as AirIQ's agent for the Bid. The price for purchases of common shares under the Bid will be made in accordance with the requirements of the TSXV and will be made at the prevailing market price of the Company's shares at the time of purchase.All purchases on the TSXV under the Bid will be subject to the limitations as set forth in the TSXV policies. As of the date of this release, the Company has 30,085,074 common shares issued and outstanding. All common shares purchased by the Company under the Bid will be cancelled.To the knowledge of AirIQ, no director, senior officer or other insider of AirIQ, or any associate of such person, or any associate or affiliate of AirIQ, currently intends to sell any common shares under the Bid. However, sales by such persons through the facilities of the TSXV may occur if the personal circumstances of any such person changes or any such person makes a decision unrelated to the Bid purchases. The benefits to any such person whose common shares are purchased would be the same as the benefits available to all other holders whose common shares are purchased.The Company's previous NCIB commenced on March 27, 2020 and expired on March 26, 2...