I guess we're not the only ones who think that the company is undervalued
Cubix Investments Inc -
Cubix issuer bid; warrants exercised; shares purchased
Cubix Investments Inc QBX
Shares issued 35,163,741 2000-04-19 close $0.91
Friday Apr 21 2000
Mr. Brad Carr reports
The company proposes to purchase up to two million of its outstanding shares, representing approximately 6 per cent at its current public float, pursuant to a normal course issuer bid to be conducted in accordance with the policy of the Canadian Venture Exchange. Purchases will commence following approval of the Canadian Venture Exchange and continue until Cubix has acquired the target number of shares, or for a period of one year, whichever is the earlier. All purchases will be made in open market transactions through the facilities of the Canadian Venture Exchange.
Cubix is conducting this issuer bid as it considers that, at current trading levels, its shares represent excellent value. Continued purchases up to the two million share target level will be made, or not made, based on management's ongoing evaluation of the investment merit of continued purchases. Any shares acquired will not be cancelled but will be held for investment purposes. The company has not previously purchased any of its outstanding shares. The issuer bid is subject to approval by the Canadian Venture Exchange.
A total of 1,742,750 warrants were recently exercised at a price of $1.46, resulting in proceeds of $2,544,415. These funds will be used in part to purchase the above noted shares.
Furthermore, the company has purchased 250,000 common shares of EcomPark, Inc., a public company trading on the Canadian Venture Exchange under the symbol EKP, for a total investment of approximately $634,000.
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