SSC Security Services Corp. Announces Approval of Share Buyback Plan
REGINA, SK, Dec. 28, 2022 /CNW/ - SSC Security Services Corp. ("SSC" or the "Company") (TSXV: SECU) (OTCQX: SECUF), a leading provider of cyber, physical and electronic security services, 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 1,200,000 of its Class A common shares (the "Shares"), representing approximately 10% of SSC's public float.
The Bid will commence on January 4, 2023 and continue until the earlier of January 3, 2024 and the date by which SSC has acquired the maximum 1,200,000 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 SSC under the Bid will be cancelled.
SSC has appointed CIBC Capital Markets as its broker to conduct the normal course issuer bid transactions.
Management of SSC 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.
SSC Security Services Corp. is a national provider of cyber, physical and electronic security services to corporate and public sector clients across Canada. For more information, please visit www.securityservicescorp.ca.
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.
Forward Looking Statements
This release includes forward-looking statements regarding SSC and its business. Such statements are based on the current expectations and views of future events of SSC's management. In some cases the forward-looking statements can be identified by words or phrases such as "may", "will", "expect", "plan", "anticipate", "intend", "potential", "estimate", "believe" or the negative of these terms, or other similar expressions intended to identify forward-looking statements. The forward-looking events and circumstances discussed in this release may not occur and could differ materially as a result of known and unknown risk factors and uncertainties affecting SSC, including risks regarding the security industry, the agricultural industry, economic factors and the equity markets generally and many other factors beyond the control of SSC. No forward-looking statement can be guaranteed. Forward-looking statements and information by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statement or information. Accordingly, readers should not place undue reliance on any forward-looking statements or information. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and SSC undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
SOURCE SSC Security Services Corp.