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Globalive Technology Commences Normal Course Issuer Bid Program
Globalive Technology Commences Normal Course Issuer Bid Program Canada NewsWire ...
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[{"type":"text","content":"\n\n\n\nGlobalive Technology Commences Normal Course Issuer Bid Program\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\nTORONTO, Feb. 10, 2020\n\n\n\nGlobalive Technology commenced its normal course issuer bid program earlier this month with the aim of purchasing for cancellation up to 5% of its common shares by December 31, 2020. \n TORONTO, Feb. 10, 2020 /CNW/ - Globalive Technology Inc. (TSX-V: LIVE) (the \"Company\"), a technology company focused on developing innovative payment, billing and credit solutions for consumers and businesses, commenced its normal course issuer bid program (the \"Share Buy-Back Program\") earlier this month. Under the Share Buy-Back Program, the Company aims to purchase for cancellation up to 5% (7,002,901) of its outstanding common shares by December 31, 2020.  \nThe Company first announced its intention to launch the Share Buy-Back Program on January 16, 2020 and received approval from the TSX Venture Exchange (the \"Exchange\") to proceed with the program on January 20, 2020. The Company subsequently retained Canaccord Genuity Corp. to act as its broker (the \"Broker\") to assist with the Share Buy-Back Program and began making purchases on February 3, 2020.   \nThe Company initiated the Share Buy-Back Program because it believes the market price of its common shares, from time to time, may not reflect their underlying value. Expending some of the Company's available capital to purchase shares for cancellation that can be reissued at a higher share price in future financings is expected to provide a net benefit to the Company and its shareholders. \nPursuant to Exchange rules, the Company may not purchase more than 2.0% of its then-issued and outstanding common shares in any consecutive 30-day period. The proposed Share Buy-Back Program is an automatic securities purchase plan, such that the specific timing of any share purchase under the program will be determined by the Broker in accordance with applicable laws and standing instructions from management, including maximum price and total funds ava...