Vancouver, British Columbia--(Newsfile Corp. - April 30, 2021) - Brand X Lifestyle Corp., (CSE: BXXX) ("Brand X" or the "Company") announces intends to execute the normal course issuer bid (NCIB) through the facilities of the Canadian Securities Exchange. Under the NCIB, the Company intends to acquire up to 2,590,000 common shares (the "Shares") in the capital of the Company, representing approximately 5 % of its issued and outstanding common shares. As of April 30, 2021, the Company had 51,957,878 common shares issued and outstanding. The normal course issuer bid will commence on May 3, 2021 and end no later than May 3, 2022. The Company may terminate the NCIB earlier if it feels it is appropriate to do so.
The Company has appointed Haywood Securities Inc. to conduct the NCIB. The purchase and payment of the Shares will be made in accordance with all requirements of the CSE and applicable securities laws. All prices paid for the Shares will be the market price at the time of purchase. All Shares purchased will be canceled.
The Company is commencing the NCIB because it believes that the current market price of its common shares may not fully reflect the underlying value of the Company's business and future prospects.
About Brand X Lifestyle Corp.
Brand X (CSE: BXXX) is an investment issuer that actively invests in a diversified portfolio of early-stage to mid-level companies and projects. Brand X leverages its extensive network of operators and global thought leaders to provide investors with a unique multi opportunity portfolio.
Contact:
Arni Johannson
604-960-1878
Forward-Looking Statements:
This news release includes certain forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein including, without limitation, statements the timing, consideration, and completion of the joint venture are forward-looking statements. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Often, but not always, forward-looking information can be identified by words such as "pro forma", "plans", "expects", "will", "may", "should", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "believes", "potential" or variations of such words including negative variations thereof, and phrases that refer to certain actions, events or results that may, could, would, might or will occur or be taken or achieved. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks and other factors include, among others, statements as to the completion of the Acquisition, the anticipated business plans and timing of future activities of the Company, including the Acquisition, the ability of the Company to obtain sufficient financing to fund its business activities and plans, delays in obtaining regulatory approvals (including of the Canadian Securities Exchange), changes in laws, regulations, and policies affecting the Company's operations and the Company's limited operating history.
Readers are cautioned not to place undue reliance on forward-looking statements. The Company undertakes no obligation to update any of the forward-looking statements in this presentation or incorporated by reference herein, except as otherwise required by law.
The Canadian Securities Exchange has not approved nor disapproved the contents of this news release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/82524
