ACCESSWIRE
29 Nov 2022, 22:55 GMT+10
VANCOUVER, BC / ACCESSWIRE / November 29, 2022 / Strategic Metals Ltd. (TSXV:SMD) ('Strategic') announces that it is making a new Normal Course Issuer Bid (the 'New Bid') pursuant to the provisions of TSX Venture Exchange Policy 5.6, to succeed its existing Normal Course Issuer Bid (the 'Old Bid'), as accepted by the TSX Venture Exchange on December 1, 2021.
Strategic has purchased (no) shares under the Old Bid, which will expire on December 2, 2022. The New Bid will consist of the acquisition by Strategic of up to 8,400,000 common shares of its capital stock, representing approximately 10% of the 'public float' of 84,930,513 common shares upon the date of commencement of the New Bid. (There are currently 110,955,967 common shares of Strategic issued and outstanding.) The New Bid will commence on December 5, 2022, and will expire on December 4, 2023.
Strategic is making the New Bid, to succeed the Old Bid (which was limited to an aggregate of 8,400,000 common shares), because it is of the opinion that fluctuating global market conditions periodically (and currently) may result in unwarranted reductions in Strategic's share price that do not reflect the underlying value of its assets. Strategic will utilize unallocated cash resources to effect purchases under the New Bid with a view to capitalizing on these potential price weaknesses. Shares purchased under the New Bid will be made at Management's discretion based on market conditions, and will be returned to Strategic's treasury for cancellation.
The New Bid will be conducted on behalf of Strategic by PI Financial Corp., of Suite 2500 - 733 Seymour Street, Vancouver, B.C. V6B 0S6.
ON BEHALF OF THE BOARD
'W. Douglas Eaton'
President and Chief Executive Officer
For further information concerning Strategic or its various exploration projects please visit our website at www.strategicmetalsltd.com or contact:
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 news release may contain forward looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of exploration and other risk factors beyond its control, and actual results may differ materially from the expected results.
SOURCE: Strategic Metals Ltd.
Get a daily dose of Seattle Bulletin news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Seattle Bulletin.
More InformationWASHINGTON D.C.: In a letter to lawmakers last week, the US Federal Aviation Administration (FAA) said it had put in ...
WASHINGTON D.C.: The Biden administration has stopped issuing export licenses to US companies seeking to ship most items to China's ...
Nearly a year in, the war in Ukraine has cost tens of thousands of lives and brought the world to ...
WASHINGTON D.C.: The US House of Representatives has passed a bill that limits the ability of US Energy Secretary Jennifer ...
BOSTON, Massachusetts: Russian businessman Vladislav Klyushin, who has ties to the Kremlin, has been accused of making tens of millions ...
TOKYO, Japan: In light of a tense security environment following Russia's invasion of Ukraine and Moscow's growing military cooperation with ...
WASHINGTON D.C.: As part of a wider policy drive to increase competition in consumer markets, President Joe Biden has announced ...
OSLO, Norway: Ending a three-year run of profits as stock and bond prices were hit by rising inflation and Russia's ...
NEW YORK, New York - Strong economic data failed to stem profit-taking on the major U.S. bourses on Friday, while ...
WASHINGTON D.C.: The US has again asked Mexico to investigate claims that workers at an auto parts facility of American ...
WASHINGTON D.C.: Tesla confirmed this week that the US Justice Department has requested documents related to its Full Self-Driving and ...
TOKYO, Japan: Toyota has announced that it sold 10.5 million vehicles in 2022, maintaining its position as the world's top-selling ...