Mobilum Technologies Announces Normal Course Issuer Bid
Mobilum Technologies Inc. (CSE: MBLM) announced a normal course issuer bid (NCIB) to acquire up to 7,819,671 common shares, representing approximately 5% of its issued shares. The NCIB will run from February 7, 2022, to February 7, 2023. This initiative aims to reflect the company's underlying value better. Haywood Securities Inc. will manage the NCIB, with all acquired shares to be canceled. Mobilum is focused on bridging traditional finance with digital payment solutions globally.
- Initiating a normal course issuer bid (NCIB) to buy back 5% of outstanding shares could indicate strong future outlook.
- Appointment of Haywood Securities Inc. to manage the NCIB suggests a structured approach to share buybacks.
- The need for an NCIB implies the current market price may undervalue the company's prospects.
VANCOUVER, BC, Jan. 31, 2022 /PRNewswire/ - Mobilum Technologies Inc. (the "Company") (CSE: MBLM) announces its intention to initiate a normal course issuer bid ("NCIB") through the facilities of the Canadian Securities Exchange. Under the NCIB, the Company intends to acquire up to 7,819,671 common shares (the "Shares") in the capital of the Company, representing approximately 5 % of its issued and outstanding common shares. The NCIB will commence on February 7, 2022 and end no later than February 7, 2023.
The Company may terminate the NCIB earlier if it feels it is appropriate to do so. The Company has appointed Haywood Securities Inc to conduct the NCIB. The purchase and payment of the Shares will be made in accordance with the requirements of the Canadian Securities Exchange and applicable securities laws. The actual number of Shares purchased, timing of purchases and share price will depend upon market conditions at the time and securities law requirements. All Shares acquired will be returned to treasury and cancelled.
The Company is commencing the NCIB because it believes that the current market price of its common shares may not fully reflect the underlying value of the Company's business and future prospects.
About Mobilum Technologies Inc.
Mobilum Technologies Inc. (CSE: MBLM) (OTC: MBLMF) (FRA: C0B), a technology-driven Payment Service Provider (PSP) with a mission to make traditional finance accessible through digital payment infrastructure and digital asset management technologies. Our goal is to allow consumers around the world to convert fiat-to-crypto and crypto-to-fiat with Mobilum's on-ramp and off-ramp solutions. Mobilum has offices in Canada, Hong Kong, Poland, Estonia and the United States. For further information go to Mobilum.com.
Related Links
https://mobilum.com
This news release may contain "forward-looking statements" within the meaning of applicable Canadian securities laws. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties, and contingencies. These statements generally can be identified by the use of forward-looking words such as "may", "should", "will", "could", "intend", "estimate", "plan", "anticipate", "expect", "believe" or "continue", or the negative thereof or similar variations. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause future results, performance or achievements to be materially different from the estimated future results, performance or achievements expressed or implied by those forward-looking statements and the forward-looking statements are not guarantees of future performance.
Mobilum's statements expressed or implied by these forward-looking statements are subject to a number of risks, uncertainties, and conditions, many of which are outside of Mobilum's control, and undue reliance should not be placed on such statements. Forward-looking statements are qualified in their entirety by the inherent risks and uncertainties of the Company's business, including: Mobilum's assumptions in making forward-looking statements may prove to be incorrect; adverse market conditions, including risks related to COVID-19 and risks that future results may vary from historical results.
Except as required by securities law, Mobilum does not assume any obligation to update or revise any forward-looking statements, whether as a result of new information, events or otherwise.
Contact Information:
Investor Relations:
Purple Crown Communications
Phone: +1 (604) 609 6169
Email: IR@mobilum.com
US Investor Relations Contact
Lytham Partners, LLC
Ben Shamsian
New York | Phoenix
646-829-9701
shamsian@lythampartners.com
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SOURCE Mobilum Technologies Inc.
FAQ
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