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Montfort Capital Announces Normal Course Issuer Bid for Common Shares
Montfort Capital Announces Normal Course Issuer Bid for Common Shares Canada Ne...
About this update from Montfort Capital Corp
[{"type":"text","content":"\n \n \n \n Montfort Capital Announces Normal Course Issuer Bid for Common Shares\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.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n ~Management believes the current market price of\n \n Montfort's\n \n common shares does not reflect the Company's underlying value and future prospects~\n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n Nov. 1, 2022\n \n \n /CNW/ -\n \n Montfort Capital Corporation (\"Montfort\" or the \"Company\")\n \n (TSXV: MONT) (OTCQB: MONTF), a leading innovator of technology in private credit, is pleased to announce  its intention to commence a normal course issuer bid through the facilities of the TSX Venture Exchange (the \"TSXV\") and Alternative Trading Systems (\"ATS\") to repurchase, for cancellation, up to 4,575,286 common shares of the Company (\"Shares\"), representing approximately 5% of the Company's issued and outstanding Shares (the \"NCIB\"). As at the date hereof, the Company has 91,505,730 Shares outstanding.\n \n \n The Company believes that, from time to time, the market price of its Shares does not adequately reflect the Company's underlying value and future prospects and that, at such times, the purchase of the Company's Shares represents an appropriate use of the Company's financial resources and will enhance shareholder value. The NCIB will commence on\n \n November 3, 2022\n \n and will terminate upon the earliest of (i) the Company purchasing 4,575,286 Shares, (ii) the Company providing notice of termination of the NCIB, and (iii)\n \n November 3, 2023\n \n . Under the NCIB, the Company may not acquire more than 2% of its issued and outstanding common shares in any 30-day period.\n \n \n The NCIB will be made through the facilities of the TSX-V and ATS, and the purchase and payment for the Shares will be made in accordance with TSX-V and ATS requirements at the market price of the applicable securities at the time of acquisition, plus brokerage fees, if any, charged by the Broker. All securities purchased by the Company under the NCIB will be cance...