VANCOUVER, BC, Jan. 31, 2022 /PRNewswire/ - Mobilum Technologies Inc. (the "Company") (CSE: MBLM) announces its intention to initiate a normal course issuer bid ("NCIB") through the facilities of the Canadian Securities Exchange. Under the NCIB, the Company intends to acquire up to 7,819,671 common shares (the "Shares") in the capital of the Company, representing approximately 5 % of its issued and outstanding common shares. The NCIB will commence on February 7, 2022 and end no later than February 7, 2023.
The Company may terminate the NCIB earlier if it feels it is appropriate to do so. The Company has appointed Haywood Securities Inc to conduct the NCIB. The purchase and payment of the Shares will be made in accordance with the requirements of the Canadian Securities Exchange and applicable securities laws. The actual number of Shares purchased, timing of purchases and share price will depend upon market conditions at the time and securities law requirements. All Shares acquired will be returned to treasury and cancelled.
The Company is commencing the NCIB because it believes that the current market price of its common shares may not fully reflect the underlying value of the Company's business and future prospects.
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