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Thermal Energy International Announces Normal Course Issuer Bid
(via TheNewswire) OTTAWA, ONTARIO - TheNewswire - November 19, 2019 - Thermal Energy Inte...
About this update from Thermal Energy International Inc.
[{"type":"text","content":"Thermal Energy International Announces Normal Course Issuer Bid(via TheNewswire)\n \n \nOTTAWA, ONTARIO - TheNewswire - November 19, 2019 - Thermal Energy International Inc. (\"Thermal Energy\" or the \"Company\") (TSXV:TMG), a global provider of energy efficiency and emissions reduction solutions, has announced its intention to undertake a Normal Course Issuer Bid (the \"Bid\"). \n\n \n \nThermal Energy is launching the Bid because it believes that, from time to time, the market price for the common shares of the Company does not reflect the underlying value of its business and its future prospects. The Board of Directors and Senior Management of Thermal Energy are of the opinion that under those circumstances the purchase of its shares at the prevailing market price may be in the best interest of the Company and its shareholders.\n\n \n \nThe Bid will consist of the purchase on the public market, from time to time, if and to the extent Thermal Energy considers it advisable, of up to 8,094,280 common shares, representing approximately 5.0% of the outstanding common shares of Thermal Energy and approximately 5.4% of the outstanding common shares excluding shares that are known to be held by insiders and their associates and affiliates. There are currently 161,885,616 common shares of Thermal Energy issued and outstanding. The period during which purchases may be made under the Bid will begin on November 22, 2019 and will extend for up to 12 months, or earlier if the numbers of shares sought in the Bid have been obtained. Thermal Energy reserves the right to terminate the Bid earlier if it feels it is appropriate to do so. All shares acquired under the Bid will be returned to treasury for cancellation.\n\n \n \nCommon shares acquired by Thermal Energy under the Bid will be purchased at the market price at the time of purchase and will be purchased on behalf of Thermal Energy by Canaccord Genuity, Thermal Energy's broker in connection with the Bid. All acquisitions will be made in accordance with the rules and policies of the TSX Venture Exchange. \n\n\n \n \n\nFor media enquiries contact: Devin Crockett or Liz Fisher Marketing Manager\n\n\n\nThermal Energy International Inc. Canada: 613-723-6776\n\n\n\nUK: +44 (0)117 917 2179\n\n\n\[email protected]\n\n \n\nFor investor enquiries: William Crossland President and CEO\n\...