Calgary, Alberta–(Newsfile Corp. – July 13, 2022) – New Stratus Power Inc. (TSXV: NSE) (“New Stratus” or the “Company“) is happy to announce that the board of administrators of the Company has permitted a standard course issuer bid (the “Bid“)to be transacted via the services ofTSX Enterprise Alternate (the “Alternate“). The Bidis meant to start on July 20, 2022 and can finish on July 19, 2023, until earlier accomplished or terminated by New Stratus. The Bid stays topic to approval from the Alternate.
Beneath the Bid, New Stratus might purchase as much as an mixture of 6,024,675 widespread shares within the capital of the Company (the “Frequent Shares“) over a 12-month interval, representing roughly 5% of the present issued and excellent Frequent Shares. As on the date hereof, there are 120,493,505 Frequent Shares issued and excellent.
Paradigm Capital Inc. (“Paradigm“) will conduct the Bid on behalf of the Company. Purchases topic to this Bid will likely be carried out pursuant to open market transactions via the services of the Alternate by Paradigm on behalf of the Company in accordance with relevant regulatory necessities. The value paid for the Frequent Shares will likely be, topic to pricing guidelines contained in securities legal guidelines, the prevailing market value of such Frequent Shares on the Alternate on the time of such buy. New Stratus intends to fund the purchases out of accessible money. All Frequent Shares bought below the Bid will likely be returned to treasury and cancelled.
In reference to the Bid, New Stratus has entered into an automated share repurchase plan with Paradigm dated July 13, 2022 pursuant to which Paradigm will buy Frequent Shares below the Bid for cancellation.
New Stratus is making the Bid because it believes that the market value of its Frequent Shares might not mirror their underlying worth primarily based on New Stratus’s enterprise prospects and robust monetary place. As well as, New Stratus believes that such purchases will contribute to the facilitation of an orderly market and be in the very best pursuits of the Company and its shareholders.
The precise variety of Frequent Shares bought, the timing of purchases and the value at which the Frequent Shares are purchased will rely upon future market situations, and upon potential various makes use of for New Stratus’s money sources. Accordingly, relying upon future value actions and different components, New Stratus will buy its Frequent Shares when it believes that they’re undervalued on the then-current market costs primarily based on its then-current and future prospects and offered that the repurchase of Frequent Shares at such market costs continues to be an acceptable use of company funds.
Contact Info:
Jose Francisco Arata
Chairman & Chief Government Officer
jfarata@newstratus.energy
Wade Felesky
President & Director
wfelesky@newstratus.energy
Mario Miranda
Chief Monetary Officer
mmiranda@newstratus.energy – (416) 363-4900
Ahead-Trying Info
Sure info contained on this information launch constitutes “forward-looking statements”, and “forward-looking info” below relevant securities laws (collectively, “forward-looking statements“). All statements apart from statements of historic reality are forward-looking statements. Ahead-looking statements could also be recognized by way of conditional or future tenses or by way of phrases comparable to “will”, “expects”, “intends”, “might”, “ought to”, “estimates”, “anticipates”, “believes”, “tasks”, “plans”, and comparable expressions, together with variations thereof and detrimental varieties. The forward-looking statements on this information launch embrace, with out limitation, the assertion that New Stratus will full the purchases of the Frequent Shares pursuant to the Bid and the graduation and finish date of the Bid. Ahead-looking statements are primarily based on New Stratus’s present inside expectations, estimates, projections, assumptions and beliefs, which can show to be incorrect. Ahead-looking statements will not be ensures of future efficiency and undue reliance shouldn’t be positioned on them.
New Stratus has offered the forward-looking statements contained herein in reliance on sure assumptions that it believes are affordable presently, together with, with out limitation, assumptions as to the market value of the Frequent Shares, the underlying worth of the Company and its Frequent Shares, and the flexibility of New Stratus to finish purchases below the Bid. Readers are cautioned that the assumptions used might show to be incorrect. Accordingly, readers shouldn’t place undue reliance on the forward-looking statements contained herein. Such forward-looking statements essentially contain identified and unknown dangers and uncertainties, which can trigger precise efficiency and monetary leads to future intervals to vary materially from any projections of future efficiency or outcomes expressed or implied by such forward-looking statements. These dangers and uncertainties embrace, with out limitation, New Stratus’s future enterprise prospects and monetary place, future market situations, and that New Stratus will be unable to finish the purchases of the Frequent Shares pursuant to the Bid. There might be no assurance that forward-looking statements will show to be correct, and precise outcomes and future occasions might differ materially from these anticipated in such statements. New Stratus undertakes no obligation to replace forward-looking statements if circumstances or administration’s estimates or opinions ought to change besides as required by relevant securities legal guidelines. New Stratus has included the above abstract of assumptions and dangers associated to forward-looking statements offered on this information launch with a purpose to present readers with a extra full perspective on the Bid and such info is probably not acceptable for different functions. Precise outcomes, efficiency or achievement might differ materially from these expressed in, or implied by, these forward-looking statements and, accordingly, no assurance might be on condition that any of the occasions anticipated by the forward-looking statements will transpire or happen, or if any of them accomplish that, what advantages could also be derived therefrom.
Neither the TSX Enterprise Alternate nor its Regulation Providers Supplier (as that time period is outlined within the insurance policies of the TSX Enterprise Alternate) accepts duty for the adequacy or accuracy of this launch.
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