Voyager Digital Adopts Normal Course Issuer Bid to Repurchase Up to 5% of Common Shares

Rhea-AI Summary

Voyager Digital Ltd. has announced a normal course issuer bid (NCIB) allowing it to repurchase up to 5% of its Common Shares. This initiative aims to provide the company with flexibility in managing its market valuation, enhancing shareholder value. The NCIB commences on May 30, 2021, and concludes on May 30, 2022, with purchases made at market price through the Canadian Securities Exchange.

Stephen Ehrlich, CEO, emphasized the bid's role in accurately reflecting the company's value and growth prospects.

Positive

• Share buyback of up to 5% of Common Shares aims to enhance shareholder value.
• Flexibility in managing market price may lead to increased investor confidence.

Negative

• None.

CSE: VYGR
OTCQB: VYGVF
Borse Frankfurt: UCD2

NEW YORK, April 21, 2021 /PRNewswire/ - Voyager Digital Ltd. ("Voyager" or the "Company") (CSE: VYGR) (OTCQB: VYGVF) (FRA: UCD2), a publicly-traded holding company whose subsidiaries operate a licensed crypto-asset trading and investment brokerage platform, today announced that it has adopted a normal course issuer bid (NCIB) under which the Company can repurchase up to 5% of its Common Shares.  

"The NCIB repurchase of Voyager's Common Shares will give the Company some additional flexibility in managing its market price to more accurately reflect the company's current value and growth projections, and in turn, strengthen shareholder value," said Stephen Ehrlich, CEO and Co-Founder of Voyager.

The NCIB will commence on May 30, 2021 and terminate on May 30, 2022. All shares purchased under the NCIB will be at the market price for the Common Shares at the time of purchase and will be facilitated through the Canadian Securities Exchange (CSE). Common Shares repurchased by Voyager under the NCIB will be purchased for cancellation. The Company intends to appoint Eight Capital as its broker to conduct the NCIB on its behalf.

About Voyager Digital Ltd.

Voyager Digital Ltd. is a publicly traded holding company whose subsidiaries operate a crypto-asset platform that provides retail and institutional investors with an app and platform to invest in and trade crypto assets. The Voyager Platform provides its customers with competitive price execution through its smart order router as well as a custody solution on a wide choice of popular crypto-assets. Voyager was founded by established Wall Street and Silicon Valley entrepreneurs who teamed to bring a better, more transparent, and cost-efficient alternative for trading crypto-assets to the marketplace. Please visit us at https://www.investvoyager.com for more information.

Cautionary Statement Regarding Forward-Looking Information

This news release contains "forward-looking statements" that are based on expectations, estimates, projections and interpretations as at the date of this news release. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "seek", "intend", "believe", "anticipate", "estimate", "suggest", "indicate" and other similar words or statements that certain events or conditions "may" or "will" occur. Such forward looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such risks and other factors may include, but are not limited to, those risk factors outlined in the Company's Management Discussion and Analysis as filed on SEDAR. The Company does not undertake to update any forward-looking information except in accordance with applicable securities laws.

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SOURCE Voyager Digital (Canada) Ltd.

FAQ

What is the purpose of Voyager Digital's normal course issuer bid?

The purpose of the normal course issuer bid is to allow Voyager Digital to repurchase up to 5% of its Common Shares, providing flexibility in managing its market price and enhancing shareholder value.

When does Voyager's normal course issuer bid start and end?

Voyager's normal course issuer bid will commence on May 30, 2021, and terminate on May 30, 2022.

How will Voyager Digital conduct its share repurchases under the NCIB?

Voyager Digital will conduct its share repurchases at market price through the Canadian Securities Exchange, with Eight Capital appointed as its broker.

What impact does the NCIB have on Voyager Digital's stock price?

The NCIB is expected to strengthen shareholder value and may positively influence investor perception of Voyager Digital's market valuation.