Vancouver, British Columbia – Strategem Capital Corporation (“Strategem” or the “Company”) (TSXV: SGE) announces its intention to proceed with a normal course issuer bid (“NCIB”) for up to 471,846 Class A common shares (“Shares”) of the Company, representing approximately 5% of the issued and outstanding Shares of the Company.
Purchases will be by way of open market purchases through the facilities of the TSX Venture Exchange (the “Exchange”) and the Company will pay the market price of the Shares at the time of acquisition. The Company will conduct the NCIB through the Company’s designated broker. All Shares purchased by the Company will be subsequently cancelled.
The Company has received approval from the Exchange to commence its NCIB on September 20, 2021. The bid will end on September 19, 2022 or earlier if the number of Shares sought in the NCIB has been obtained. The Company reserves the right to terminate the bid earlier if it determines such action to be appropriate. Although Strategem intends to purchase Shares under its NCIB, there can be no assurance that any such purchases will be completed.
The Company believes that the purchase of the Shares will increase the proportionate interest of, and be advantageous to, all remaining security holders. The normal course purchases will also afford an increased degree of liquidity in the market.
About Strategem Capital Corporation
Strategem Capital Corporation is a publicly listed company with an objective for continued growth through investments in resource exploration and development mining, energy production and agricultural protein products. Its investments shall be focused, high growth opportunities in private or public companies.
For further information please contact:
|Strategem Capital Corporation
Jo-Anne O’Connor, President and
Chief Executive Officer
Suite 210 – 240 11 Ave SW
Calgary, AB T2R 0C3
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.
Except for historical information contained herein, this news release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially. Except as required pursuant to applicable securities laws, the Company will not update these forward-looking statements to reflect events or circumstances after the date hereof. More detailed information about potential factors that could affect financial results is included in the documents filed from time to time with the Canadian securities regulatory authorities by the Company.
The forward-looking statements contained in this news release present the expectations of the Company as of the date hereof and, accordingly, is subject to change after such date. Readers are cautioned not to place undue reliance on forward-looking statements.