SOL Global Investments Corp. (the “Company” or “SOL Global”) (CSE: SOL) (OTCQ: SOLCF) (Frankfurt: 9SB) is pleased to announce that its board of directors (the “Board”) has formally approved the Company’s plan to pursue a substantial issuer bid (the “Issuer Bid”) to repurchase up to $30,000,000 of its outstanding common shares (the “Common Shares”) for cancellation at a premium to the current market price.
As disclosed in the Company’s news release on September 3, 2021, the Company recently completed its normal course issuer bid (the “NCIB”) for the purchase of 2,737,805 Common Shares. Following the completion of the NCIB, the Board considered appropriate uses of the Company’s financial resources, and at Management’s suggestion, approved pursuing the Issuer Bid as a way to return cash to its shareholders.
Pursuant to an engagement letter approved by the Board and dated effective September 7, 2021, Clarus Securities Inc. will act as the Company’s advisor and dealer manager in respect of the Issuer Bid. The Company expects to finalize the terms of tender and formally commence the Issuer Bid by late September, subject to obtaining any necessary regulatory approvals and/or exemptive relief.
“My team and I have an insatiable determination to provide above average returns to SOL
