Toronto, Canada, April 27, 2022 (GLOBE NEWSWIRE) -- (TSXV: GMN) GobiMin Inc. (the “Company” or “GobiMin”) announces that the TSX Venture Exchange (“TSXV”) has accepted its Notice of Intention to Make a Normal Course Issuer Bid in connection with the Company’s 2022 normal course issuer bid (the “Bid”).
Under the Bid, a total of up to 2,459,749 common shares may be purchased through the facilities of the TSXV, representing 5% of the issued and outstanding common shares of the Company, and any such purchases will be at market prices. All common shares purchased pursuant to the Bid will be returned to treasury for cancellation. The Bid will commence on or after April 29, 2022 and will end on April 28, 2023 or on such earlier date as GobiMin may complete its purchases pursuant to the Bid or as it may otherwise determine. Purchases pursuant to the Bid will be conducted through Raymond James Ltd.
Mr. Felipe Tan, president and Chief Executive Officer of GobiMin, stated that “In the view of GobiMin, the recent market prices of its common shares do not properly reflect its underlying value. The purchase of shares under the Bid can provide the Company flexibility to maintain healthy regulatory capital ratios and to maximize shareholder value. Having the Bid in place is for the benefit and in the best interest of the Corporation and the shareholders.”
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“Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.”
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