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TERRAVEST ANNOUNCES RENEWAL OF NORMAL COURSE ISSUER BID FOR ITS COMMON SHARES AND AUTOMATIC PURCHASE PLAN
TERRAVEST ANNOUNCES RENEWAL OF NORMAL COURSE ISSUER BID FOR ITS COMMON SHARES AND AUTOMATIC PURCH...
About this update from Terravest Industries, Inc.
[{"type":"text","content":"\n \n \n \n TERRAVEST ANNOUNCES RENEWAL OF NORMAL COURSE ISSUER BID FOR ITS COMMON SHARES AND AUTOMATIC PURCHASE PLAN\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 \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n VEGREVILLE, AB\n \n \n ,\n \n \n March 15, 2023\n \n \n /CNW/ - TerraVest Industries Inc. (\"\n \n TerraVest\n \n \" or the \"\n \n Corporation\n \n \") (TSX: TVK) announced today that it has received the approval of the Toronto Stock Exchange (the \"\n \n TSX\n \n \") to renew its normal course issuer bid (the \"\n \n Bid\n \n \") for up to 949,963 of its issued and outstanding common shares (the \"\n \n Shares\n \n \") on the TSX. In connection with the Bid, TerraVest has entered into an automatic share purchase plan with its designated broker to allow for purchase of Shares (the \"\n \n Share Purchase Plan\n \n \").\n \n \n Purchases under the Bid may commence on\n \n March 17, 2023\n \n and will terminate on\n \n March 16, 2024\n \n or on such earlier date as the Bid is complete. Purchases of Shares will be made either through the facilities of the TSX in accordance with its rules or through alternative Canadian trading systems.\n \n \n The average daily trading volume of the Shares for the previous six calendar months (\"\n \n ADTV\n \n \") was 3,434 Shares. Subject to the TSX's block purchase exception, on any trading day, purchases under the Bid will not exceed 1,000 Shares. The price that the Corporation will pay for any Shares purchased under the Bid will be the prevailing market price at the time of purchase. Any Shares purchased by the Corporation will be cancelled.\n \n \n As of\n \n March 7, 2023\n \n , there were 17,831,318 Shares issued and outstanding. The 949,963 Shares that may be repurchased under the Bid represents approximately 10% of the public float of Shares on\n \n March 7, 2023\n \n .\n \n \n Pursuant to the Corporation's normal course issuer bid which commenced on\n \n March 17, 2022\n \n and terminates on\n \n March 16, 2023\n \n , TerraVest had obtained approval to purchase up to 947,259 Shares, and purchased 97,800 Shares...