TORONTO, March 19, 2018 /CNW/ - Neo Performance Materials Inc.
("Neo" or the "Company") (TSX: NEO) announced today that the Toronto Stock Exchange (the "TSX") has
accepted a notice filed by Neo of its intention to make a Normal Course Issuer Bid (the "Bid") for up to 1,996,078 of its
issued and outstanding common shares (the "Shares"). In connection with the Bid, the Company has entered into an automatic
share purchase plan with its designated broker to allow for purchases of its Shares (the "Share Purchase Plan").
Purchases of Shares under the Bid may commence on March 21, 2018 and will terminate on
March 20, 2019, or on such earlier date as the Bid is complete. Purchases of Shares may be made in
the open market through the facilities of the TSX or alternative trading systems. Purchases under the Share Purchase Plan will be
determined by Neo's broker in its sole discretion, without consultation with the Company, subject to the limitations of the Share
Purchase Plan and the rules of the TSX. The Share Purchase Plan is considered an "automatic plan" for purposes of
applicable Canadian securities laws. The Share Purchase Plan was established to provide standard instructions regarding how
the Shares are to be purchased under the Bid. Accordingly, Neo may purchase its Shares in accordance with the Share Purchase Plan
on any trading day during the Bid, including during self-imposed trading blackout periods. The Company may otherwise vary,
suspend or terminate the Share Purchase Plan only if it does not have material non-public information, the decision to vary,
suspend or terminate the Share Purchase Plan is not taken during a self-imposed trading blackout period and any variation,
suspension or termination is made in accordance with the terms of the Share Purchase Plan.
The average daily trading volume of the Shares for the previous six calendar months ("ADTV") (December 8, 2017 to March 15, 2018) was 30,892 Shares. On any trading day,
purchases under the Bid will not exceed 7,723 Shares. The price that the Company 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 Company will be cancelled.
As of March 16, 2018, being the date of the notice of the Bid, there were 39,921,577 Shares
issued and outstanding. The 1,996,078 Shares that may be repurchased under the Bid represent approximately 5% of the issued and
outstanding Shares on March 16, 2018.
Neo believes that its Shares have been trading in a price range which does not adequately reflect the value of such shares in
relation to the business of Neo and its future business prospects. As a result, depending upon future price movements and
other factors, Neo believes that its outstanding Shares may represent an attractive investment to Neo. Furthermore, the
purchases are expected to benefit all persons who continue to hold Shares by increasing their equity interest in Neo.
Cautionary Statement Regarding Forward-Looking Information
This news release contains "forward-looking information" within the meaning of applicable securities laws in Canada.
Forward-looking information may relate to future events or future performance of the Company. All statements in this
release, other than statements of historical facts, with respect to the Company's objectives and goals, as well as statements
with respect to its beliefs, plans, objectives, expectations, anticipations, estimates, and intentions, are forward-looking
information. Specific forward-looking statements in this discussion include, but are not limited to: expectations regarding
certain of the Company's future results and information, including, among other things, revenue, expenses, sales growth, capital
expenditures, and operations; statements with respect to expected use of cash balances; continuation of prudent management of
working capital; source of funds for ongoing business requirements and capital investments; expectations regarding sufficiency of
the allowance for uncollectible accounts and inventory provisions; analysis regarding sensitivity of the business to changes in
exchange rates; impact of recently adopted accounting pronouncements; risk factors relating to intellectual property protection
and intellectual property litigation; and, expectations concerning any remediation efforts to the Company's design of its
internal controls over financial reporting and disclosure controls and procedures. Often, but not always, forward-looking
information can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates",
"continues", "forecasts", "projects", "predicts", "intends", "anticipates" or "believes", or variations of, or the negatives of,
such words and phrases, or state that certain actions, events or results "may", "could", "would", "should", "might" or "will" be
taken, occur or be achieved. This information involves known and unknown risks, uncertainties and other factors that may
cause actual results or events to differ materially from those anticipated in such forward-looking information. The Company
believes the expectations reflected in such forward-looking information are reasonable but no assurance can be given that these
expectations will prove to be correct and such forward-looking information included in this discussion and analysis should not be
unduly relied upon. For more information on the Company, investors should review the Company's continuous disclosure
filings that are available under the Company's profile at www.sedar.com.
About Neo Performance Materials
Neo Performance Materials is a global leader in the innovation and manufacturing of rare earth- and rare metal-based
functional materials, which are essential inputs to high technology, high growth, future-facing industries. The business of the
Company is organized along three segments: Magnequench, Chemicals & Oxides and Rare Metals. The Company is headquartered in
Toronto, Ontario, Canada; with corporate offices in Greenwood Village,
Colorado, US; and Beijing, China. The Company operates globally with sales and production
across 10 countries, being Japan, China, Thailand, Estonia, Singapore, Germany, United Kingdom, Canada,
United States, and South Korea. For more information, please
visit www.neomaterials.com.
SOURCE Neo Performance Materials Inc
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