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Tribe Property Technologies Announces Normal Course Issuer Bid
Tribe Property Technologies Announces Normal Course Issuer Bid Canada NewsWire ...
About this update from Tribe Property Technologies Inc
[{"type":"text","content":"\n \n \n \n Tribe Property Technologies Announces Normal Course Issuer Bid\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 VANCOUVER, BC\n \n \n ,\n \n \n June 9, 2022\n \n \n /CNW/ - Tribe Property Technologies Inc. (\"Tribe\" or the \"Company\") (TSXV: TRBE) announces that it has filed a Notice of Intention to Make a Normal Course Issuer Bid (\"NCIB\") with the TSX Venture Exchange (the \"TSXV\"), which will allow the Company to purchase outstanding common shares of the Company (\"Shares\").\n \n \n \n \n \n \n \n \n \n The Company plans to implement the NCIB because it believes that, from time to time, the market price of the Shares may not fully reflect the underlying value of the Company's business and its future prospects. Accordingly, the Company believes that having the ability to purchase the Shares will be in the interest of the Company and represents an opportunity to enhance unitholder value.\n \n \n Under the NCIB, the Company may acquire up to an aggregate of 907,337 Shares over the 12-month period commencing on\n \n June 13, 2022\n \n and ending on\n \n June 12, 2023\n \n , representing approximately 10% of the \"public float\" (calculated in accordance with the policies of the TSXV) as of\n \n May 31, 2022\n \n . Additionally, under the NCIB, the Company may not acquire more than 2% of the issued and outstanding Shares in any 30-day period.\n \n \n Purchases subject to the NCIB will be carried out pursuant to open market transactions through the facilities of the TSXV and alternative trading systems or by such other means as may be permitted under applicable securities laws during the term of the NCIB at the prevailing market price of the Shares at the time of purchase.  All Shares purchased by the Company under the NCIB will be returned to treasury and cancelled. The actual number of Shares which may be purchased pursuant to the NCIB and the timing of any purchases will be determined by management and the Board of Directors of the Company. The NCIB will be conducted through PI Financial Corp. (\"PI\"),...