BeWhere Holdings Inc. Announces Plans to Repurchase Common Shares

TORONTO, ON / ACCESSWIRE / June 3, 2024 / BeWhere Holdings Inc. (TSX Venture: BEW) has notified the TSX Venture Exchange of its intention to initiate a Normal Course Issuer Bid starting on June 7, 2024, and ending on June 6, 2025, or earlier if the planned share repurchases are completed sooner.

The Board of Directors believes the current market price undervalues BeWhere's Common Shares. The company aims to utilize its funds to buy back its shares deemed appropriately priced.

Over the next year, BeWhere intends to repurchase up to 5% of its Common Shares. On May 31, 2024, BeWhere had 87,231,111 issued and outstanding shares, translating to a potential buyback of 4,361,555 shares. This number may adjust based on shares acquired under the current bid ending June 6, 2024, potentially reducing the count to 4,202,638 shares.

Purchases will occur through TSX Venture Exchange open market transactions, handled by Beacon Securities Limited in Toronto, Ontario. The shares bought will be canceled, and the bid requires regulatory approval.