Business
Namaste Announces Intention to Commence a Normal Course Issuer Bid to Repurchase Up to 10% of its Public Float and Provides a Corporate Update Including Incoming CFO, New Board Director and Consultants
Namaste Announces Intention to Commence a Normal Course Issuer Bid to Repurchase Up to 10%...
About this update from Lifeist Wellness Inc
[{"type":"text","content":"\n\n\n\nNamaste Announces Intention to Commence a Normal Course Issuer Bid to Repurchase Up to 10% of its Public Float and Provides a Corporate Update Including Incoming CFO, New Board Director and Consultants\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\nVANCOUVER, June 28, 2018\n\n\n\nVANCOUVER, June 28, 2018 /CNW/ - Namaste Technologies Inc. (\"Namaste\" or the \"Company\") (TSXV: N)(FRA: M5BQ)(OTCMKTS: NXTTF) is pleased to announce that, subject to regulatory approval, it intends to commence a normal course issuer bid (\"NCIB\"). The Company intends to purchase up to 25,308,136 common shares, representing approximately 8.9% of the Company's issued and outstanding common shares and 10% of the Company's \"public float\" (as such term is defined in the TSX-V Corporation Finance Manual).\n\n\n \n \n\n \nThe Company is in the process of appointing Canaccord Genuity Inc. as its broker to conduct the NCIB on its behalf. The NCIB will commence three business days following the TSX-V's acceptance of the Company's Notice of Intention to commence the NCIB. \n\nAll purchases will be made through the facilities of the TSX-V at market prices and otherwise in accordance with the rules and policies of the TSX-V. All common shares acquired by the Company under the NCIB are being purchased for cancellation.\n\nNamaste's board of directors believes that, from time to time, the market price of the common shares does not adequately reflect the Company's underlying value and future prospects and that, at such times, the purchase of the common shares represents an appropriate use of the Company's financial resources and will enhance shareholder value. \n\nIn addition to the NCIB, the Company is pleased to announce the appointment of Kenneth Ngo as the Company's CFO and the appointment of Fern Glowinsky, president of Merrco Payments Inc. (\"Merrco\") to the Company's board of directors. Namaste has also engaged advisory consultants including Tim Henley and Dr. Paul Neider (DVM) who are focused on launching CBD production for both human and pet consumption in Namaste's i...