Vox Royalty (VOX-V) Nov 15, '22 Normal Course Issuer Bid (NCIB)
Normal Course Issuer Bid Renewal
The Company's NCIB is being renewed after the existing NCIB expires on November 18, 2022 . The current NCIB provides Vox with the option to repurchase for cancellation up to 1,968,056 common shares as appropriate opportunities arise from time to time. Under the terms of the renewed NCIB, the Company may repurchase for cancellation up to 2,229,697 common shares, being 5% of the total number of 44,593,950 common shares outstanding as at November 7, 2022 . The repurchases are to be made at market prices through the facilities of the TSXV or other recognized Canadian marketplaces, or through the facilities of the Nasdaq, during the period November 21, 2022 to November 20, 2023 .
The Company believes that, from time to time, the market price of its common shares does not reflect the Company's underlying value and future prospects and that, at such times, the repurchase of the Company's common shares represents an appropriate use of its financial resources and will enhance shareholder value. Independent Trading Group (ITG), Inc. has been appointed by Vox as its broker to assist with NCIB repurchases and subsequent share cancellations.
In the last twelve months, the Company has repurchased and cancelled 215,400 common shares pursuant to its NCIB at a weighted average price of C$3.07 per common share through the facilities of the TSXV and other recognized Canadian marketplaces. |
