Nickel 28 Capital Corp V.NKL

Nickel 28 - Repurchase of shares!

[GoldPathfinder]

Great news for all shareholders!
 

"“Using Nickel 28’s excess liquidity to buy back common shares at their current trading price would be highly accretive to our net asset value per share and represents the highest rate of return on an investment that the Company could make,” stated Anthony Milewski, the Company’s Chairman. He continued, “Accordingly, the purchase for cancellation of shares by Nickel 28 during these times will benefit the remaining shareholders by increasing their proportionate ownership in the Company.”

Nickel 28 has submitted a notice of intention to undertake a normal course issuer bid to the TSX Venture Exchange (“TSXV”) in connection with the purchase by Nickel 28 of up to 7,478,209 of its common shares, representing 8.7% of the 85,701,844 common shares comprising Nickel 28’s total issued and outstanding common shares as of May 26, 2021."

https://ceo.ca/@businesswire/nickel-28-announces-proposed-normal-course-issuer-bid

[Talchior]

yes, then they have chosen what to do with the cash. But it could take 1 year before it's done. I don't really understand how the number can be so accurate on a so large period.

[GoldPathfinder]

This is a double whammy! First the stock price go up because of the good news with the repurchase. I buy more knowing that the there will be less shares. Second the stock price go up when Nickel 28 buy back and cancel the stocks.

[GoldPathfinder]

Enclosed you find a conservative analysis with a value of 4,50 Cad/share for Nickel 28. The analysis is from April 22 and only value Ramu & Dumont. The analysis is before the news of faster repayment of debth and the repurchase of shares. It is not difficult to imagine that the price of Nickel will be much higher in a couple of years due to the EV-battery expansion; making this analysis more