- CoinSmart Financial (SMRT) announced that the NEO Exchange has approved the company’s share buyback program
- CoinSmart will purchase up to a maximum of 2,764,76510, representing 10 per cent of its public float
- CoinSmart will be authorized to make purchases under the share buyback program between January 21, 2022, and January 21, 2023
- The company and Haywood Securities Inc. will enter into a dealer agreement and automatic share purchase plan
- CoinSmart is a leading Canadian-headquartered crypto asset trading platform
- CoinSmart Financial Inc. is unchanged on the day, trading at C$0.85 per share at 1 pm EST
CoinSmart Financial (SMRT) announced that the NEO Exchange has approved the company’s share buyback program.
CoinSmart will purchase up to 10 per cent of the public float of its common shares.
CoinSmart believes that the share buyback program is in the best interests of the company and will enhance shareholder value.
Under the terms of the program, CoinSmart may purchase up to a maximum of 2,764,765 shares, representing approximately 10 per cent of its public float. Daily purchases on the NEO Exchange cannot exceed the greater of 25 per cent of the average daily trading volume, or 1,000 shares.
The actual number of shares purchased under the program will be determined by the company. All shares purchased will be cancelled. Shares purchased under the program will be the prevailing market price.
CoinSmart will appoint Haywood Securities Inc. as the broker. The company and Haywood will enter into a dealer agreement and automatic share purchase plan.
CoinSmart will be authorized to make purchases under the share buyback program between January 21, 2022, and January 21, 2023, or when the maximum number of shares has been purchased.
CoinSmart is a leading Canadian crypto asset trading platform dedicated to providing customers with an intuitive way of buying and selling digital assets, like Bitcoin and Ethereum. CoinSmart is one of the few crypto-asset trading platforms in Canada to be registered as a securities dealer and marketplace with the Ontario Securities Commission.
CoinSmart Financial Inc. is unchanged on the day, trading at C$0.85 per share at 1 pm EST.