CA - Ackroo announces normal course issuer bid

2023-06-13 11:29:37 ET

• Ackroo ( OTCPK:AKRFF ) said on Tuesday that it had filed with the TSX Venture Exchange its notice of intention to make a normal course issuer bid.
• The company plans to buy up to 6.1M shares over a 12-month period starting from June 16th, 2023, representing about 5% of its outstanding share capital.
• Under the NCIB, the company may not acquire more than 2% of the issued and outstanding shares in any 30-day period.
• The company will fund any purchases under the NCIB from its working capital.
• "The Company plans to implement the NCIB because it believes that, from time to time, the market price of the Shares may not fully reflect the underlying value of the Company’s business and its future prospects," Ackroo said in a statement .

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