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July 16, 2024 – TheNewswire – VANCOUVER, BRITISH COLUMBIA – Planet Ventures Inc. (CSE: PXI) (the “Company” or “Planet Ventures”) is pleased to announce its intention to initiate a normal course issuer bid (“NCIB”) through the facilities of the Canadian Securities Exchange (the “CSE”).
The board and management of the Company believe that the current market price of the Shares may not fully reflect the underlying value of the Company’s business and future prospects. Accordingly, the Company intends to launch the NCIB to acquire up to approximately 16,867,115 common shares in the capital of the Company (“Shares”), representing 10.0% of the Company’s public float as of the date hereof. The NCIB will commence on July 16, 2024, and end on July 16, 2025, unless the maximum number of Shares is purchased prior to such date or the Company provides earlier notice of termination. Although the Company intends to purchase Shares under the NCIB, there can be no assurance that any such purchases will be completed.
The Company intends to appoint Ventum Financial Corp. to conduct the NCIB. The actual number of Shares purchased, timing of purchases and purchase price will depend upon the prevailing market conditions, subject to applicable securities law requirements. All Shares acquired by the Company pursuant to the NCIB will be returned to treasury and cancelled.
About the Company
Planet Ventures is an investment issuer listed on the CSE that is focused on investing in disruptive companies and industries that have high growth potential. Planet Ventures’ unique portfolio driven investment policies provide its investors with access to emerging and high-growth opportunities while shielding them from any formidable downside. For more information, please visit Planet Ventures’ website: https://planetventuresinc.com/.
ON BEHALF OF THE COMPANY
“Etienne Moshevich”
Etienne Moshevich
Chief Executive Officer
FOR FURTHER INFORMATION, PLEASE CONTACT
PLANET VENTURES INC.
Tel: (604) 681-0084
Email:
CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATION
This news release contains certain forward-looking information and forward-looking statements, as defined in applicable securities laws (collectively referred to herein as "forward-looking statements"). These statements relate to future events or the Company's future performance. All statements other than statements of historical fact are forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "continues", "forecasts", "projects", "predicts", "intends", "anticipates" or "believes", or variations of, or the negatives of, such words and phrases, or state that certain actions, events or results "may", "could", "would", "should", "might" or "will" be taken, occur or be achieved. Inherent in forward-looking statements are risks, uncertainties and other factors beyond the Company's ability to predict or control. Please also make reference to those risk factors referenced in the “Risk Factors” section of the Company’s most recently filed management’s discussion and analysis.
Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated in such forward-looking statements. The forward-looking statements in this news release speak only as of the date hereof or as of the date specified in such statement. The forward-looking information and forward-looking statements contained herein include, but are not limited to: the timing of the NCIB, the amount of Shares to be purchased under the NCIB, the appointment of Ventum Financial Corp., the termination date of the NCIB and the return to treasury or cancellation of the Shares. Readers are cautioned that the forward-looking statements above do not contain an exhaustive list of the factors or assumptions that may affect the forward-looking statements, and that the assumptions underlying such statements may prove to be incorrect. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this news release.
All forward-looking statements herein are qualified by this cautionary statement. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, whether as a result of new information or future events or otherwise, except as may be required by law. If the Company does update one or more forward-looking statements, no inference should be drawn that it will make additional updates with respect to those or other forward-looking statements, unless required by law.
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