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|goeasy Ltd. Announces Launch of Normal Course Issuer Bid|
Pursuant to the NCIB, goeasy proposes to purchase, from time to time, if it is considered advisable, up to an aggregate of 555,000 Common Shares, being approximately 5% of goeasy’s public float as of
Daily purchases will be limited to 9,052 Common Shares, representing 25% of the average daily trading volume, other than block purchase exemptions. The purchases may commence on
Purchases under the NCIB will be made by means of open market transaction or other such means as a security regulatory authority may permit, including pre-arranged crosses, exempt offers and private agreements under an issuer bid exemption order issued by a securities regulatory authority. The price that goeasy will pay for any Common Shares will be the market price of such shares at the time of acquisition, unless otherwise permitted under applicable rules.
The Board of Directors of goeasy believes that the proposed purchases are in the best interests of the Company and are a desirable use of corporate funds. All Common Shares purchased by goeasy pursuant to the NCIB will be cancelled.
“We have experienced a recent decline in the Company’s share price and have decided to commence an NCIB at this time as we believe that the value of our business is not fully reflected in our current share price. As such we will make purchases under this NCIB on an opportunistic basis when we feel that the shares of the Company are undervalued” said
The Company also announces that it has entered into an issuer automatic purchase plan agreement (the “Plan”) in respect of the NCIB.
goeasy Ltd. offers leasing and lending services in the alternative financial services market and provides everyday Canadians a path to a better tomorrow, today. goeasy Ltd. serves its customers through two key operating divisions, easyfinancial and easyhome. easyfinancial is a non-prime consumer lending business that bridges the gap between traditional financial institutions and costly payday loans. easyfinancial offers a range of unsecured and secured personal instalment loans supported by a strong central credit adjudication process and industry leading risk analytics. easyhome is
goeasy Ltd.’s. common shares are listed for trading on the TSX under the trading symbol “GSY” and goeasy’s convertible debentures are traded on the TSX under the trading symbol “GSY-DB”. goeasy is rated BB- with a stable trend from S&P and Ba3 with a stable trend from Moody’s. For more information, visit www.goeasy.com.
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