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EcoSynthetix Announces Normal Course Issuer Bid
EcoSynthetix Announces Normal Course Issuer Bid Canada NewsWire BURLINGTON,...
About this update from Ecosynthetix Inc.
[{"type":"text","content":"\n\n\n\n EcoSynthetix Announces 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\n\n\n\n BURLINGTON, ON\n \n\n ,\n \n\n May 12, 2025\n \n\n /CNW/ - EcoSynthetix Inc. (TSX: ECO)\n \n (\"EcoSynthetix\" or the \"Company\")\n \n , a renewable chemicals company that produces a portfolio of commercially proven bio-based products, announced today that it intends to make a normal course issuer bid (the \"Bid\") to repurchase, on the open market through the facilities of the Toronto Stock Exchange (\"TSX\"), other designated exchanges and/or alternative Canadian trading systems or by such other means as may be permitted by applicable Canadian securities laws, certain of its outstanding common shares (\"Shares\").\n \n\n The number of Shares to be purchased during the period of the Bid from\n \n May 15, 2025\n \n to\n \n May 14, 2026\n \n will not exceed 4,094,000 Shares, being approximately 10% of the outstanding Shares as of\n \n May 1, 2025\n \n , other than the Shares held by directors, senior officers and principal security holders (the \"Public Float\"). The actual number of Shares which may be purchased pursuant to the Bid and the timing of any such purchases will be determined by the management of EcoSynthetix. As at\n \n May 1, 2025\n \n there were 58,443,917 Shares issued and outstanding and the Public Float consisted of 40,940,005 Shares. The average daily trading volume of the Shares on the TSX (the \"ADTV\") for the most recently completed six month period was 20,142 Shares. Pursuant to the terms of the Bid, EcoSynthetix will not acquire on any given trading day more than 25% of the ADTV for the most recently completed six-month period, being 5,035 Shares, other than block purchase exceptions. All purchases made pursuant to the Bid will be made on the open market through the facilities of the TSX, other designated exchanges and/or alternative Canadian trading systems or by such other means as may be permitted by applicable Canadian securities laws and EcoSynthetix will cancel any such Shares purc...