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Nickel 28 Announces TSXV Acceptance of Normal Course Issuer Bid
Toronto, Ontario--(Newsfile Corp. - July 24, 2024) - Nickel 28 Capital Corp. (TSXV: NKL) (F...
About this update from Nickel 28 Capital Corp
[{"type":"text","content":"\nNickel 28 Announces TSXV Acceptance of Normal Course Issuer BidToronto, Ontario--(Newsfile Corp. - July 24, 2024) - Nickel 28 Capital Corp. (TSXV: NKL) (FSE: 3JC0) (\"Nickel 28\" or the \"Company\") is pleased to announce that the TSX Venture Exchange (the \"TSXV\") has accepted the Company's notice to implement a normal course issuer bid (\"NCIB\") to purchase, for cancellation, up to 7,153,629 of its common shares, representing approximately 7.9% of Nickel 28's issued and outstanding common shares over a twelve month period commencing on July 26, 2024. The NCIB will expire no later than July 25, 2025. Nickel 28 has appointed Haywood Securities Inc. to administer the proposed NCIB on behalf of the Company.\"We are pleased to announce the TSXV's acceptance of Nickel 28's normal course issuer bid,\" stated Christopher Wallace, President & Chief Executive Officer of the Company. \"In the opinion of management and the board of directors of Nickel 28, the common shares have recently continued to trade in a price range that represents a substantial discount to the Company's net asset value and does not reflect the underlying value of the Company, and implementation of this normal course issuer bid represents an element of our newly adopted shareholder capital return policy to enhance shareholder value creation,\" he said.All common shares purchased by Nickel 28 will be purchased on the open market through the facilities of the TSXV or alternative Canadian trading systems, in open market transactions or by such other means as may be permitted under applicable securities laws. The actual number of common shares which may be purchased, and the timing of such purchases, will be determined by Nickel 28. Decisions regarding purchases will be based on market conditions, share price, best use of available cash, and other factors as determined by the Board from time to time. Nickel 28 also intends to enter into an automatic purchase plan which will allow for the purchase for cancellation of common shares, subject to certain trading parameters, by Haywood Securities Inc. during times when Nickel 28 would ordinarily not be active in the market due to applicable securities regulatory restrictions or self-imposed blackout periods. Outside of these periods, the common shares will be repurchased by Nickel 28 at its discretion under ...