PXI:CC - Planet Ventures Inc. Announces Normal Course Issuer Bid
(TheNewswire)
July 16, 2024 – TheNewswire – VANCOUVER,BRITISH COLUMBIA – PlanetVentures Inc. ( ?CSE:PXI?) (the “ Company ” or“ Planet Ventures ”) is pleased to announce its intention to initiate anormal course issuer bid (“ NCIB ”) through the facilities of theCanadian Securities Exchange (the “ CSE ”).
The board and management of the Company believe thatthe current market price of the Shares may not fully reflect theunderlying value of the Company’s business and future prospects.Accordingly, the Company intends to launch the NCIB to acquire up toapproximately 16,867,115 common shares in the capital of the Company(“ Shares ”), representing 10.0% of the Company’s public float asof the date hereof. The NCIB will commence on July 16, 2024, and endon July 16, 2025, unless the maximum number of Shares is purchasedprior to such date or the Company provides earlier notice oftermination. Although the Company intends to purchase Shares under theNCIB, there can be no assurance that any such purchases will becompleted.
The Company intends to appoint Ventum Financial Corp.to conduct the NCIB. The actual number of Shares purchased, timing ofpurchases and purchase price will depend upon the prevailing marketconditions, subject to applicable securities law requirements. AllShares acquired by the Company pursuant to the NCIB will be returnedto treasury and cancelled.
About the Company
Planet Ventures is an investment issuer listed on theCSE that is focused on investing in disruptive companies andindustries that have high growth potential. Planet Ventures’ uniqueportfolio driven investment policies provide its investors with accessto emerging and high-growth opportunities while shielding them fromany formidable downside. For more information, please visit PlanetVentures’ website: https://planetventuresinc.com/ .
ON BEHALF OF THE COMPANY
“Etienne Moshevich”
Etienne Moshevich
Chief Executive Officer
FOR FURTHER INFORMATION, PLEASECONTACT
PLANET VENTURES INC.
Tel: (604) 681-0084
Email: info@planetventuresinc.com
CAUTIONARY STATEMENT ONFORWARD-LOOKING INFORMATION
This news release contains certainforward-looking information and forward-looking statements, as definedin applicable securities laws (collectively referred to herein as"forward-looking statements"). These statements relate tofuture events or the Company's future performance. All statementsother than statements of historical fact are forward-lookingstatements. Often, but not always, forward-looking statements can beidentified 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, orstate that certain actions, events or results "may","could", "would", "should","might" or "will" be taken, occur or be achieved.Inherent in forward-looking statements are risks, uncertainties andother factors beyond the Company's ability to predict or control.Please also make reference to those risk factors referenced in the“Risk Factors” section of the Company’s most recently filedmanagement’s discussion and analysis.
Forward-looking statements involveknown and unknown risks, uncertainties and other factors that maycause actual results to differ materially from those anticipated insuch forward-looking statements. The forward-looking statements inthis news release speak only as of the date hereof or as of the datespecified in such statement. The forward-looking information andforward-looking statements contained herein include, but are notlimited to: the timing of the NCIB, the amount of Shares to bepurchased under the NCIB, the appointment of Ventum Financial Corp.,the termination date of the NCIB and the return to treasury orcancellation of the Shares. Readers are cautioned that theforward-looking statements above do not contain an exhaustive list ofthe factors or assumptions that may affect the forward-lookingstatements, and that the assumptions underlying such statements mayprove to be incorrect. Actual results and developments are likely todiffer, and may differ materially, from those expressed or implied bythe forward-looking statements contained in this news release.
All forward-looking statementsherein are qualified by this cautionary statement. Accordingly,readers should not place undue reliance on forward-looking statements.The Company undertakes no obligation to update publicly or otherwiserevise any forward-looking statements, whether as a result of newinformation or future events or otherwise, except as may be requiredby law. If the Company does update one or more forward-lookingstatements, no inference should be drawn that it will make additionalupdates with respect to those or other forward-looking statements,unless required by law.
THIS NEWS RELEASE IS NOT FORDISTRIBUTION TO UNITED STATES NEWSWIRES OR DISSEMINATION IN THE UNITEDSTATES
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