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Horizon North Logistics Inc. Announces TSX Acceptance of Normal Course Issuer Bid
Horizon North Logistics Inc. Announces TSX Acceptance of Normal Course Issuer Bid ...
About this update from Dexterra Group, Inc.
[{"type":"text","content":"\n\n\n\nHorizon North Logistics Inc. Announces TSX Acceptance of Normal Course Issuer Bid\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\nCanada NewsWire\nCALGARY, Dec. 18, 2018\n\n\n\nCALGARY, Dec. 18, 2018 /CNW/ - Horizon North Logistics Inc. (\"Horizon North\" or the \"Corporation\") (TSX: HNL.TO) announced today that the Toronto Stock Exchange (the \"TSX\") has accepted the Corporation's notice of intention to commence a normal course issuer bid (the \"NCIB\").\n\n \n \n\n \nUnder the terms of the NCIB, Horizon North is authorized to acquire up to an aggregate of 16,185,634 of its common shares (\"Common Shares\"), representing approximately 10% of its \"public float\" (as such term is defined by the policies of the TSX) as at December 13, 2018. A maximum of 96,129 Common Shares may be repurchased by Horizon North on any one day, subject to certain exemptions permitted by the TSX. All Common Shares purchased by Horizon North under the NCIB will be returned to treasury and cancelled. As at December 13, 2018, Horizon North had 164,268,988 Common Shares issued and outstanding, of which 161,856,348 Common Shares were in its public float. \nAlthough the Corporation has a present intention to acquire Common Shares, it is not obligated to make any purchases pursuant to the NCIB. The actual number of Common Shares purchased pursuant to the NCIB and the timing of such purchases will be determined by Horizon North and will be dependent on future market conditions, Horizon North's share price, the Corporation's capital requirements, and other factors.\nThe NCIB will commence on December 20, 2018 and terminate on December 19, 2019, or the earlier of the date all shares which are subject to the NCIB are purchased. All purchases will be effected at market prices through the facilities of the TSX or alternative Canadian trading platforms in accordance with applicable regulatory requirements. Shareholders may obtain a copy of the NCIB, without charge, by contacting Horizon North.\nThe Board of Directors of Horizon North believes that, from time to time, the market price of the Com...