The INX Digital Firm, Inc. (NEO: INXD, INXATS: INX, OTCQB: INXDF), a regulated digital asset buying and selling platform proprietor, introduced on August 9, 2023, its intention to resume its regular course issuer bid (NCIB) program to repurchase frequent shares of the corporate. Alongside this, INX’s subsidiary, INX Restricted, intends to resume its INX Token repurchase program.
NCIB Program Particulars
The NCIB, accepted by the Neo Trade Inc., working as Cboe Canada, permits the corporate to buy as much as 12,713,823 Widespread Shares, roughly 10% of the general public float as of July 28, 2023. The combination buy value for any Widespread Shares acquired beneath the NCIB and INX Tokens acquired beneath the token repurchase program should not exceed US$5 million.
Purchases beneath the NCIB could also be made by way of open market transactions on the NEO Trade and/or Canadian different buying and selling techniques. Day by day purchases can not exceed 31,348 Widespread Shares, 25% of the common day by day buying and selling quantity on the NEO Trade, measured from January 26, 2023, to July 26, 2023. Any Widespread Shares bought will probably be canceled.
INX Restricted Token Repurchase Program
Underneath this program, repurchases may be made utilizing numerous strategies, together with open market purchases, in compliance with U.S. SEC guidelines and different authorized necessities. The repurchase program doesn’t obligate the corporate to amass any particular variety of tokens, and it might be suspended or discontinued at INX Restricted’s discretion. INX Tokens bought will probably be retired.
Timing and Circumstances
The interval throughout which purchases beneath the NCIB and token repurchase program will begin on August 11, 2023, and finish on the earliest of August 10, 2024, or when the mixture most variety of Widespread Shares are bought, or when the mixture buy value reaches US$5 million.
Underneath its prior NCIB that commenced on March 23, 2022, and expired on March 23, 2023, INX bought 96,500 Widespread Shares and didn’t repurchase any INX Tokens.
Dealer Appointment
The corporate has appointed PI Monetary Corp. because the dealer to conduct purchases beneath the NCIB, in accordance with the insurance policies of the NEO Trade.
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