Alcanna Announces Share Buyback Program

Alcanna Inc (TSX: CLIQ) this morning announced that it intends to conduct a share buyback program. The program, if approved, is set to begin July 5 and occur over a 12 month period.

Under the proposed normal course issuer bid, Alcanna is looking to repurchase up to 10% of its outstanding public float. With a total of 36.2 million shares outstanding as of today, the company is looking to repurchase up to 2.8 million shares under the proposed program.

All shares purchased under the program are to be cancelled, with purchases to be made based on market conditions, share price, and “other factors.” The company has indicated that it is pursing the program as a result of management believing that the market price of the equity may not reflect the underlying value of the firm from time to time.

Alcanna Inc last traded at $6.64 on the TSX.


Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Goliath Resources Hits 10.60 g/t Gold Over 22.82 Metres, Highest Grade Results In Third Distinct Rock Package At Surebet Discovery

Four Countries Control the Fertilizer That Feeds the World | Sage Potash

$10,000 Gold Is Just A Question of Time | Florian Grummes

Recommended

ESGold Outlines $24.3 Million NPV For Tailings Reprocessing Project

First Majestic Encounters 711 g/t Silver Equivalent Over 8.0 Metres In Ongoing Exploration At Los Gatos

Related News

Aurora Cannabis Dumps 23% Stake In Alcanna At 80% Loss

Aurora Cannabis (TSX: ACB) (NYSE: ACB) continues to liquidate its assets as it tries to...

Wednesday, June 3, 2020, 08:46:41 AM

Sundial Growers Sees Alcanna Shareholders Approve Acquisition

Alcanna Inc (TSX: CLIQ) shareholders have approved the previously announced plan of arrangement with Sundial...

Monday, January 10, 2022, 07:43:06 AM

Sundial Growers Finally Closes Purchase Of Alcanna

Sundial Growers (NASDAQ: SNDL) has finally closed on its much-delayed purchase of retailer Alcanna Inc...

Thursday, March 31, 2022, 08:25:35 AM

Sundial, Alcanna Postpone Shareholder Vote Due To Lack Of Merger Support

This morning it became apparent why Sundial Growers (NASDAQ: SNDL) was attempting to bolster support...

Monday, December 13, 2021, 08:40:22 AM

Sundial Growers Sweetens Deal To Include Cash For Alcanna Shareholders

Sundial Growers (NASDAQ: SNDL) is doing all that it can to salvage its proposed acquisition...

Thursday, January 6, 2022, 09:32:36 AM