CoinSmart Financial Inc. (NEO: SMRT) (FSE: IIR) Interview 🎯 RICH TV LIVE
183CoinSmart Financial Inc. (NEO: SMRT) (FSE: IIR) Interview on RICH TV LIVE - January 21, 2022 - #coinsmart #cryptoexchange #richtvlive #interview #bitcoin #crypto #cryptocurrency #money #business #news #investing #finance #education #entertainment #win #pennystocks #blockchaintechnology #stocks #trading
CoinSmart Financial Inc. (NEO: SMRT) (FSE: IIR) ("CoinSmart" or the "Company"), a leading Canadian headquartered crypto asset trading platform, is pleased to announce that the Company has filed a Notice of Normal Course Issuer Bid (the "Share Buyback Program") with the NEO Exchange which has been accepted for the purchase of up to 10% of the public float of its common shares (the "Shares").
Management and the board of directors of the Company believe that the current market price of the Shares does not adequately reflect their value based on market comparables, and that the purchase of Shares under the Share Buyback Program is in the best interests of the Company. The Company believes the Share Buyback Program is a desirable use of its available cash, and will enhance shareholder value in general.
Pursuant to the Share Buyback Program, CoinSmart may purchase up to a maximum of 2,764,765 Shares, representing approximately 10% of its public float of Shares as at the date hereof, subject to the normal terms and limitations of such bids. In accordance with NEO Exchange rules, daily purchases (other than pursuant to a block purchase exception) on the NEO Exchange under the Share Buyback Program cannot exceed the greater of 25% of the average daily trading volume on the NEO Exchange or 1,000 Shares.
The actual number of Shares that will be purchased under the Share Buyback Program, if any, and the timing of such purchases will be determined by the Company from time to time. The timing and extent of repurchases will depend upon several factors, including market and business conditions, valuation of the Shares, regulatory requirements and other corporate considerations. Purchases under the Share Buyback Program may be made through open market transactions on the NEO Exchange and/or any Canadian alternative trading systems on which the Shares are traded, based on the prevailing market price. Any Shares purchased under the Share Buyback Program will be cancelled.
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