Pivotree Initiates Normal Course Issuer Bid for Common Shares

Pivotree Inc., a notable player in frictionless commerce solutions, has announced the approval of a normal course issuer bid (NCIB) by the TSX Venture Exchange. This initiative allows the company to repurchase, for cancellation, up to 2,009,509 common shares, signifying 10% of shares held by public shareholders. The NCIB is set to start on September 3, 2026, and will conclude either upon the completion of the share purchase, voluntary termination by Pivotree, or September 2, 2027.

The firm's strategy stems from the belief that its market price does not always reflect its intrinsic value. Funding for the NCIB will be sourced from Pivotree's working capital, with National Bank Financial Inc. appointed as the broker. Shares acquired under this program will be purchased through TSXV facilities and subsequently cancelled.

No current intentions to sell shares have been indicated by the company's insiders. Currently, Pivotree has acquired 466,000 shares under its existing NCIB.