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Crescita Therapeutics Announces Approval of Normal Course Issuer Bid
Crescita Therapeutics Announces Approval of Normal Course Issuer Bid Canada New...
About this update from Crescita Therapeutics, Inc.
[{"type":"text","content":"\n \n \n \n Crescita Therapeutics Announces Approval of Normal Course Issuer Bid\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 LAVAL, QC, Nov. 26, 2020\n \n \n \n \n \n LAVAL, QC\n \n ,\n \n Nov. 26, 2020\n \n /CNW/ - Crescita Therapeutics Inc. (TSX: CTX) (OTC US: CRRTF) (\"Crescita\" or the \"Company\") announced today that the Toronto Stock Exchange (the \"TSX\") has approved the Company's intention to make a normal course issuer bid (\"NCIB\") for a portion of its common shares (\"Common Shares\") as appropriate opportunities arise from time to time.\n \n \n \n \n \n \n \n \n \n Pursuant to the NCIB notice filed with the TSX, the Company intends to acquire up to a maximum of 1,000,000 Common Shares, or approximately 5.5% of its public float as of\n \n November 25, 2020\n \n for cancellation over the next 12 months. As of\n \n November 25, 2020\n \n , the Company had 20,648,448 issued and outstanding Common Shares.\n \n \n Purchases under the NCIB will be made through the facilities of the TSX or through a Canadian alternative trading system and in accordance with applicable regulatory requirements at a price per Common Share representative of the market price at the time of acquisition. The number of Common Shares that can be purchased pursuant to the NCIB is subject to a current daily maximum of 5,152 Common Shares (which is equal to 25% of 20,609, being the average daily trading volume from\n \n May 1, 2020\n \n through to\n \n October 31, 2020\n \n ), subject to the Company's ability to make one block purchase of Common Shares per calendar week that exceeds such limits. All Common Shares purchased under the NCIB will be cancelled upon their purchase. The Company intends to fund the purchases out of its available resources.\n \n \n The Company may begin to purchase Common Shares on\n \n November 30, 2020\n \n and the NCIB will terminate on\n \n November 29, 2021\n \n or such earlier time as the Company completes its purchases pursuant to the NCIB or provides notice of termination.\n \n \n The Company has adopted an automatic sec...