Business
Liberty Defense Commences Normal Course Issuer Bid to Buy Back Up-to 9.9% of the Publically Traded Float
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES. WILM...
About this update from Liberty Defense Holdings Ltd.
[{"type":"text","content":"Liberty Defense Commences Normal Course Issuer Bid to Buy Back Up-to 9.9% of the Publically Traded Float\n\n\n\n\n NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.\n \n\n\n WILMINGTON, Mass., June 02, 2025 (GLOBE NEWSWIRE) --\n \n Liberty Defense Holdings Ltd.\n \n (“\n \n Liberty\n \n ” or the “\n \n Company\n \n ”) (\n \n TSXV: SCAN\n \n ,\n \n OTCQB: LDDFF\n \n , FSE: E30), a leading technology provider of AI-based next generation detection solutions for concealed weapons and threats, is pleased to announce that it intends to make a normal course issuer bid (the “\n \n NCIB\n \n ”) to purchase its common shares (the “\n \n Shares\n \n ”). The NCIB has been approved by the Company’s board of directors and the TSX Venture Exchange (the “\n \n TSXV\n \n ”) has conditionally approved the NCIB.\n \n\n Pursuant to the NCIB, the Company intends to purchase up to 5,142,844 of its outstanding Shares, representing approximately 10% of the Company’s “public float”, being the Shares held by non-insiders of the Company. As at May 30, 2025, there were 51,976,722 issued and outstanding Shares, of which 548,281 Shares were held by insiders of the Company. Purchases pursuant to the NCIB will be made on the open market through the facilities of the TSXV. The NCIB will commence on June 5, 2025, and will be open until June 4, 2026, or such earlier time as the NCIB is completed or at the option of the Company. Under the NCIB, the Company may not acquire more than 2% of its issued and outstanding Shares in any 30-day period. All Shares purchased pursuant to the NCIB will be returned to treasury and cancelled.\n \n\n All Shares purchased by the Company under the NCIB will be purchased at the market price, plus brokerage fees, at the time of acquisition in accordance with the rules and policies of the TSXV and applicable securities laws. No purchases will be made other than by means of open market transactions during the term of the NCIB. Although the Company has a present intention to acquire its Shares pursuant to the NCIB, it is not obligated to make any purchases and purchases may be suspended by the Company at any time.\n \n\n The Company is undertaking the NCIB because, in the opinion of its board of directors...