Input Capital Corp. Announces Approval of Share Buyback Plan
REGINA, SK, Dec. 29, 2020 /CNW/ - Input Capital Corp. ("Input") (TSXV: INP) (US: INPCF) announced today its intention, and its receipt of all required regulatory approvals including approval by the TSX Venture Exchange, to make a normal course issuer bid (the "Bid") for up to 3,400,000 of its Class A common shares (the "Shares"), representing approximately 10% of Input's public float.
The Bid will commence on January 4, 2021 and continue until the earlier of January 3, 2022 and the date by which Input has acquired the maximum 3,400,000 Shares which may be purchased under the Bid. The Bid will be made through the facilities of the TSX Venture Exchange, or such other "designated exchange" as that term is defined by applicable Canadian securities laws, and the purchase and payment for the Shares will be made in accordance with TSX Venture Exchange requirements, or such other designated exchange, at the market price of the Shares at the time of acquisition. All Shares purchased by Input under the Bid will be cancelled.
Input has appointed National Bank Financial as its broker to conduct the normal course issuer bid transactions.
Management of Input believes that the Shares have been trading in a price range which does not adequately reflect their value and that the purchase of the Shares under the Bid will enhance shareholder value in general.
Input is primarily an agriculture commodity streaming company providing several flexible and competitive forms of financing which help western Canadian farmers solve working capital, mortgage finance and canola marketing challenges and improve the financial position of their farms. As of May 2019, Input postponed capital deployment into new streaming contracts while the Company explored new profitable business opportunities to invest determined through Input's strategic alternatives process. On December 14, 2020, Input announced that it had entered into a binding share purchase agreement with SRG Security Resource Group Inc., a privately-held, market-leading Canadian provider of Cyber Security and physical Protective Security Services.
More information can be found in the disclosure documents filed by Input with the securities regulatory authorities, available at www.sedar.com and on Input's website at www.inputcapital.com.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
SOURCE Input Capital Corp.