Mr. Peeyush Varshney reports
ZINCX RESOURCES CORP. ANNOUNCES RENEWAL OF NORMAL COURSE ISSUER BID
Zincx Resources Corp. has filed a Form 5G with the TSX Venture Exchange and received conditional approval to purchase at market price up to 8,287,534 common shares, being approximately 5 per cent of the company's issued and outstanding common shares, by way of a normal course issuer bid through the facilities of the TSX-V.As of the date hereof, there are 165,750,683 common shares of the company issued and outstanding. The bid will commence on Aug. 1, 2018, and will stay open for 12 months. The company purchased 1,823,500 common shares under its existing normal course issuer bid over the past 12 months.
The company is engaging in a normal course issuer bid because it believes that the market price of its common shares does not properly reflect the underlying value of the company.The purpose of the bid is to reduce dilution of the company's shares and to enhance the potential future value of the common shares which remain outstanding, thus increasing long-term shareholder value. Purchases connected with this bid will be conducted through Canaccord Genuity Corp.'s offices in Vancouver.The company will pay the market price of the common shares at the time of acquisition and will not purchase more than 2 per cent of the total issued and outstanding common shares within any 30-day period.
A copy of the notice may be obtained by any shareholder of the company, without charge, by contacting the company's head office.
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