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Nickel 28 Capital Announces TSXV Acceptance of Normal Course Issuer Bid
TORONTO / Jun 30, 2021 / Business Wire / Nickel 28 Capital Corp. (“Nickel 28” or the “Company”) (TSXV:NKL) (FSE:3JC) is pleased to announce that the TSX Venture
About this update from Nickel 28 Capital Corp
[{"type":"text","content":"TORONTO / Jun 30, 2021 / Business Wire / Nickel 28 Capital Corp. (“Nickel 28” or the “Company”) (TSXV:NKL) (FSE:3JC) is pleased to announce that the TSX Venture Exchange has accepted the Company's notice to implement a normal course issuer bid (\"NCIB\") to purchase, for cancellation, up to 7,478,209 of its common shares, representing 8.7% of Nickel 28’s common shares (calculated in accordance with the rules of the TSX-V), over a twelve month period commencing on July 2, 2021. The NCIB will expire no later than July 1, 2022. Nickel 28 has entered into an exclusive agreement with Haywood Securities Inc. to conduct the NCIB on behalf of the Company. All purchases made pursuant to the NCIB will be made through the facilities of the TSX Venture Exchange or alternative Canadian trading systems, in open market transactions or by such other means as may be permitted under applicable securities laws. The price that Nickel 28 will pay for common shares in open market transactions will be the market price at the time of purchase. 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. Any daily purchases on the TSX Venture Exchange under the NCIB will be subject to all limitations as set forth in the TSX Venture Exchange rules. As of June 28, 2021, the Company has 85,701,844 common shares issued and outstanding. All Shares purchased by Nickel 28 under the NCIB will be cancelled. Nickel 28 is commencing the NCIB because in the opinion of management and the board of directors of the Company, the common shares have recently traded 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. About Nickel 28 Nickel 28 Capital Corp. is a nickel-cobalt producer through its 8.56% joint-venture interest in the producing, long-life and world-class Ramu Nickel-Cobalt Operation located in Papua New Guinea. Ramu provides Nickel 28 with significant attributable nickel and cobalt production thereby offering our shareholders direct exposure to two metals which are critical to the adoption of electric vehicles. In addition, Nickel 28 manages a portfolio of 13 nickel and cobalt r...