Announces Acceptance of Normal Course Issuer Bid

Rhea-AI Summary

BeWhere Holdings has received approval from the TSX Venture Exchange for a Normal Course Issuer Bid to buy back up to 4,416,074 common shares, representing approximately 5% of its outstanding shares. The buyback period will run from May 24, 2022 to May 23, 2023, or until all shares are purchased. The shares will be acquired at market price through the TSX Venture Exchange. After repurchase, the shares will be cancelled to reduce the total outstanding shares.

TORONTO, ON / ACCESSWIRE / May 16, 2022 / BeWhere Holdings Inc. (the "Corporation" or "BeWhere") announces that it has received acceptance by the TSX Venture Exchange of its intention to purchase by way of a Normal Course Issuer Bid of up to an aggregate of 4,416,074 of its Common Shares, representing approximately 5% of the issued and outstanding Common Shares of the Corporation. The normal course issuer bid will commence on May 24, 2022 and terminate on May 23, 2023 or the earlier of the date all shares which are subject to the Normal Course Issuer Bid are purchased.

Purchases subject to the Normal Course Issuer Bid will be carried out pursuant to open market transactions through the facilities of the TSX Venture Exchange and the price which the Corporation will pay for the Common Shares acquired by it will be the market price of the Common Shares at the time of acquisition. The Member through which the Normal Course Issuer Bid will be conducted is Echelon Wealth Partners, Toronto, Ontario. All Common Shares purchased by BeWhere under the Normal Course Issuer Bid will be cancelled.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

FOR FURTHER INFORMATION, PLEASE CONTACT:
Owen Moore
President and Chief Executive Officer
Telephone: (416) 990-3970
Email: info@bewhere.com

SOURCE: BeWhere Holdings Inc.

View source version on accesswire.com:
https://www.accesswire.com/701598/Announces-Acceptance-of-Normal-Course-Issuer-Bid

FAQ

What is the purpose of BeWhere Holdings' Normal Course Issuer Bid?

The purpose is to buy back up to 4,416,074 common shares to reduce the total outstanding shares, potentially increasing shareholder value.

When will BeWhere Holdings' Normal Course Issuer Bid take place?

The Normal Course Issuer Bid will commence on May 24, 2022, and terminate on May 23, 2023.

How many shares can BeWhere Holdings buy back through the Normal Course Issuer Bid?

BeWhere Holdings can buy back up to 4,416,074 common shares, which is about 5% of its issued and outstanding shares.

Who will conduct the Normal Course Issuer Bid for BeWhere Holdings?

Echelon Wealth Partners, based in Toronto, Ontario, will conduct the Normal Course Issuer Bid.

What happens to the shares purchased by BeWhere Holdings under the Normal Course Issuer Bid?

All common shares purchased will be cancelled by BeWhere Holdings.