Mr. David Kratochvil reports
BQE WATER ANNOUNCES NORMAL COURSE ISSUER BID
BQE Water Inc. has obtained the approval of the TSX Venture Exchange to commence a normal course issuer bid (NCIB) to repurchase for cancellation up to 62,556 of its outstanding common shares, representing 5 per cent of shares issued and outstanding as of Dec. 1, 2022, over a 12-month period starting Dec. 12, 2022, to Dec. 11, 2023, unless the maximum amount of shares is purchased before then or the company provides earlier notice of termination.
The board believes, from time to time, the market price of the company's shares does not adequately reflect the company's underlying value and future prospects and that the repurchase of company's shares represents an attractive investment and an advantageous use of the company's financial resources. The company expects the repurchase of shares will benefit shareholders by increasing their equity interest in the company.
The company has engaged Raymond James Ltd. to act as its broker for the NCIB. The shares will be purchased through the facilities of the TSX-V at the prevailing market price at the time of acquisition. Payment for the shares will be made from the company's existing working capital. The broker will determine the timing of these purchases in its sole discretion based on purchasing parameters set by the company and subject to the policies of the TSX-V and applicable securities laws. All shares purchased by the company under the NCIB will be cancelled.
There can be no assurance as to the precise number of shares or the aggregate dollar amount that will be repurchased under the NCIB. The company has not previously purchased any of its common shares through an NCIB.
To the company's knowledge, none of the directors, senior officers or insiders of the company, or any associate of such person, has any present intention to sell any securities to the company during the course of the NCIB.
About BQE Water
BQE Water is a service provider specializing in water treatment and management for metals mining, smelting and refining. It is helping to transform the way the industry thinks about water in the context of natural resource projects by offering services and expertise which enable more sustainable water management practices and improved overall project performance at reduced risks. BQE Water invests in innovation and has developed unique intellectual property through the commercialization of several new technologies at mine sites around the world for organizations, including Glencore, Jiangxi Copper, Freeport-McMoRan and the U.S. Environmental Protection Agency.
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