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Toronto, Ontario – (Newsfile Corp. – September 16, 2021) – Greencastle Resources Ltd. (TSXV: VGN) (“Chateau-de-Vert“or the”Society“) announces the reinstatement of the public tender offer in the normal course of the company.
Subject to regulatory approval, the Company will proceed with a normal course issuer bid (the “Offer“). The Offer will be for a maximum of 3,875,917 ordinary shares of the Company over a period of one year (the”Submission period“), representing approximately 10% of the issued and outstanding common shares of the Company and representing 10% of the free float (as such term is defined in the policies of the TSX Venture Exchange (“TSXV“) of the issued and outstanding common shares of the Company, with a maximum of 775,183 common shares of the Company which may be purchased during any 30-day period during the offer period, being 2% of the common shares issued and outstanding of the Company.The offer period will begin on September 20, 2021, and will continue until the earliest of September 19, 2022, or until the date on which the Company has acquired the maximum number of ordinary shares that may be purchased under the Offer.
Management believes that the market price of the Company’s common shares may not fully reflect the value of its business and prospects and, as such, believes that purchasing its own common shares for cancellation is a strategy. appropriate to increase long-term shareholder value. Purchases will be made through the TSX Venture Exchange, and the price at which the Company will purchase its common shares will be the market price of the shares at the time of acquisition. The Company has appointed Canaccord Genuity Wealth Management as broker to carry out the normal course issuer bid transactions. For more information, please visit www.greencastle.ltd or contact: Anthony Roodenburg, CEO 416-367-4571 ext. 222.
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. This press release contains forward-looking statements. These statements are based on information currently available to the Company and the Company provides no assurance that actual results will meet management’s expectations. Forward-looking statements include estimates and statements that describe the future plans, objectives or goals of the Company, including words indicating that the Company or management expects a condition or reported result to occur. Forward-looking statements may be identified by words such as “believes”, “anticipates”, “expects”, “estimates”, “could”, “could”, “could”, “will” or “will”. Because forward-looking statements are based on assumptions and deal with future events and conditions, by their very nature they involve inherent risks and uncertainties. The actual results relating, among other things, to the results of exploration, project development, reclamation and capital costs of the Company’s mining properties, as well as the Company’s financial condition and prospects, could differ materially from those currently anticipated in these statements for a number of reasons such as: changes in general economic and financial market conditions; changes in demand and prices for minerals; litigation, legislative, environmental and other legal, regulatory, political and competitive developments; technological and operational difficulties encountered in the course of the Company’s activities; and other matters discussed in this press release. This list is not exhaustive of the factors that could affect the Company’s forward-looking statements. These and other factors should be carefully considered and readers should not place undue reliance on the Company’s forward-looking statements. The Company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the Company, except in accordance with applicable securities laws.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/96778.