MINCO CAPITAL ANNOUNCES COMMENCEMENT OF NORMAL COURSE ISSUER BID
TSX-V: MMM
OTCQX: MGHCF
FSE: MI5
VANCOUVER, BC, May 29, 2024 /CNW/ - Minco Capital Corp. (the "Company" or "Minco Capital") (TSXV: MMM) (OTCQX: MGHCF) (FSE: MI5) announced its intention to launch another Normal Course Issuer Bid ("NCIB") to buy back and cancel its shares, subject to TSX Venture Exchange ("TSXV") approval. The previous NCIB expired on March 31, 2024.
The new NCIB will commence on June 3rd, 2024, and will allow the Company to purchase up to 2% of the 43,430,881 issued and outstanding shares in a given 30-day period, up to a total of 3,245,645 common shares of the Company, which represents approximately 10% of the public float, over a 12-month period. The program will expire on June 2nd, 2025, unless the maximum number of Common Shares are purchased before then or Minco Capital provides earlier notice of termination. Purchases will be made on the TSXV and alternative exchanges at the market price at the time of acquisition. Payment for the shares will be following TSXV policies. The Company reserves the right to terminate the NCIB earlier if deemed appropriate.
Minco Capital believes that the market price of its Common Shares may not reflect their underlying value. The Board of Directors has authorized this initiative because, in their opinion, the proposed purchase of Common Shares pursuant to the NCIB constitutes an appropriate use of Minco Capital's funds. The repurchase of its Common Shares is expected to benefit all remaining shareholders by increasing their equity interest in the Company.
During the NCIB's term, purchases will be made only through open market transactions or other means as may be permitted under applicable securities laws. The shares purchased by the Company will be returned to the treasury for cancellation.
Raymond James Ltd. will conduct the NCIB on behalf of the Company. To the knowledge of the Company, no director, senior officer, or other insiders currently intends to sell any common shares under the NCIB.
Shareholders can obtain a copy of the NCIB without charge by contacting the Company.
ON BEHALF OF THE BOARD
"Ken Cai"
President
Minco Capital Corp. (TSXV: MMM / OTCQX: MGHCF / FSE: MI5) is a Canadian company focused on identifying high-quality investment opportunities, primarily in publicly traded and privately held corporations and direct ownership stakes in resource projects. The Company owns 11 million shares of Minco Silver Corporation.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Minco Capital Corp.
For more information on Minco Capital Corp., please visit the website at www.mincocapitalcorp.com or contact Renee Lin at (604)-688-8002 or [email protected]
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