CA - Melcor Developments announces normal course issuer bid

2023-06-05 12:48:47 ET

• Melcor Developments ( OTCPK:MODVF ) intends to make a normal course issuer bid for the term June 7, 2023 and ending June 6, 2024, for purchase and cancellation of up to 1,562,431 common shares, ~5% of its issued and outstanding common shares.
• The daily repurchase restriction for the common shares is 1,617.
• Under the previous normal course issuer bid, 1,641,627 common shares were purchased for cancellation at $11.88. As of May 29, 2023, there were 31,248,628 common shares of Melcor outstanding and the average daily trading volume for the six-month period ending April 30, 2023 was 6,469.
• Source: Press Release

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