TSX-V: MMM
OTCQX: MGHCF
FSE: MI5
VANCOUVER, BC, March 29, 2023 /CNW/ - Minco Capital Corp. (the "Company" or "Minco Capital") (TSXV: MMM) (OTCQX: MGHCF) (FSE: MI5) announced its intention to launch another Normal Course Issuer Bid ("NCIB") to buy back and cancel its shares, subject to TSX Venture Exchange ("TSXV") approval. The current NCIB expires on March 31, 2023. The new NCIB, which will begin on April 1, 2023, can purchase up to 10% of 34,104,245 of public float, subject to a maximum of 2% of the 44,479,881 issued and outstanding common shares as of March 23, 2023, during any 30-day period. The program will expire on March 31, 2024, unless the maximum amount of Common Shares are purchased before then or Minco Capital provides earlier notice of termination. Purchases will be made on the TSXV and alternative exchanges at the market price at the time of acquisition. Payment for the shares will be in accordance with TSXV policies. The Company reserves the right to terminate the NCIB earlier if it feels it is appropriate to do so.
Minco Capital believes that the market price of its Common Shares may not reflect their underlying value and the Board of Directors has authorized this initiative because, in the Board's opinion, the proposed purchase of Common Shares pursuant to the NCIB constitutes an appropriate use of Minco Capital's funds, and the repurchase of its Common Shares are expected to benefit all remaining shareholders by increasing their equity interest in the Company.
The TSXV allows for the purchase of up to 2% of the issued and outstanding Common Shares in a given 30-day period. No purchases will be made other than by means of open market transactions or by such other means as may be permitted under applicable securities laws during the term of the NCIB. The shares purchased by the Company will be returned to the treasury for cancellation.
Raymond James Ltd. will conduct the NCIB on behalf of the Company. To the knowledge of the Company, no director, senior officer, or other insiders of the Company currently intends to sell any common shares under the NCIB.
Shareholders can obtain a copy of the NCIB, without charge, by contacting the Company.
ON BEHALF OF THE BOARD
"Ken Cai"
President
About Minco Capital
Minco Capital Corp. (TSXV: MMM / OTCQX: MGHCF / FSE: MI5) is a Canadian company focused on identifying high-quality investment opportunities, primarily in publicly traded and privately held corporations as well as direct ownership stakes in resource projects. The Company owns 11 million shares of Minco Silver Corporation.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.
2060 – 1055 W. Georgia St., Vancouver, BC, Canada V6E 3R5
Tel: (604)688-8002 Fax: (604)688-8030 Toll Free: (888)288-8288
E-mail: pr@mincomining.ca Website: www.mincocapitalcorp.com
SOURCE Minco Capital Corp.
View original content: http://www.newswire.ca/en/releases/archive/March2023/29/c4681.html