Ackroo Announces Completion of 2023 Normal Course Issuer Bid

Rhea-AI Summary

Ackroo Inc. (TSX-V: AKR; OTC: AKRFF) successfully completed its 2023 Normal Course Issuer Bid, buying and cancelling all 6,068,681 shares available, reducing the total share count by 5% to 115,304,952 shares. The average price paid per share was $0.08692, totaling $527,469 invested. The Company also paid Canaccord Genuity Corp. $11,150 in fees. Ackroo plans to renew the NCIB in June 2024, aiming to provide returns to shareholders based on the Company's financial position and share price.

HAMILTON, Ontario, Dec. 07, 2023 (GLOBE NEWSWIRE) -- Ackroo Inc. (TSX-V: AKR; OTC: AKRFF) (the “Company”), a loyalty marketing, payments and point-of-sale technology and services provider, is pleased to announce the successful Company of it’s 2023 Normal Course Issuer Bid (“NCIB”) that commenced on June 16^th, 2023. The Company has completed buying and cancelling all 6,068,681 shares available through the NCIB paying an average of $0.08692 per share for a total of $527,469 invested. The Company also paid Canaccord Genuity Corp. $11,150 in fees to carry out the NCIB. The outcome from the NCIB has the total share count of Ackroo reduced by the fully 5% allowed to 115,304,952 shares as of the date of this release.

The Company is very satisfied with the average price paid per share and will look to renew the NCIB in June of 2024 when available again via the TSX Venture Exchange.

Share buy backs are an important aspect of how the Company plans to provide returns to shareholders. As the Company’s financial position evolves in connection with the then share price will dictate’s the Company’s plans as it relates to future NCIB purchases.

A copy of the Company's notice with respect to the NCIB filed with the TSX Venture Exchange may be obtained, by any shareholder without charge, by contacting Steve Levely, Chief Executive Officer, by email at slevely@ackroo.com.

About Ackroo

Through vendor and industry consolidation, Ackroo provides marketing, payment and point-of-sale solutions for merchants of all sizes. Ackroo’s self-serve, data driven, cloud-based marketing platform helps merchants in-store and online process and manage loyalty, gift card and promotional transactions at the point of sale. Ackroo’s payment services provide merchants with low-cost payment processing options through some of the world’s largest payment technology and service providers. Ackroo’s hybrid management and point-of-sale solutions help manage and optimize the general operations for niche industry’s including used automotive dealers. All solutions are focused on helping to consolidate, simplify and improve the merchant marketing, payments and point-of sale ecosystem for their clients. Ackroo is headquartered in Hamilton, Ontario, Canada. For more information, visit: www.ackroo.com.

For further information, please contact:

Steve Levely Chief Executive Officer | Ackroo Tel: 416-360-5619 x730 Email: slevely@ackroo.com

The TSX Venture Exchange has neither approved nor disapproved the contents of this press release. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward Looking Statements
This release contains forecasts and forward-looking statements that are not guarantees of future performance and activities and are subject to risks and uncertainties. The Company has based these forward-looking statements on assumptions and assessments made by its management in light of their experience and their perception of historical trends, current conditions, expected future developments and other factors they believe to be appropriate. Important factors that could cause actual results, developments and business decisions to differ materially from those anticipated in these forward-looking statements include, but are not limited to: the Company’s ability to raise enough capital to support the Company’s go forward plans; the overall global economic environment; the impact of competition and new technologies; general market, political and economic conditions in the countries in which the Company operates; projected capital expenditures and liquidity; changes in the Company’s strategy; government regulations and approvals; changes in customers’ budgeting priorities; plus other factors that may arise. Any forward-looking statements in this press release are made as of the date hereof, and the Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

FAQ

What is the ticker symbol for Ackroo Inc.?

The ticker symbol for Ackroo Inc. is TSX-V: AKR and OTC: AKRFF.

How many shares did Ackroo Inc. buy back through the 2023 NCIB?

Ackroo Inc. bought back and cancelled all 6,068,681 shares available through the NCIB.

What was the average price paid per share during the NCIB?

The average price paid per share during the NCIB was $0.08692.

When does Ackroo Inc. plan to renew the NCIB?

Ackroo Inc. plans to renew the NCIB in June 2024 when available again via the TSX Venture Exchange.

How can shareholders obtain a copy of the Company's notice with respect to the NCIB?

Shareholders can obtain a copy of the Company's notice with respect to the NCIB filed with the TSX Venture Exchange by contacting Steve Levely, Chief Executive Officer, by email at slevely@ackroo.com.