Mogo Announces 2023 Share Buybacks
October 05 2023 - 9:25AM
Business Wire
Company has repurchased a total of 254,456
shares year to date
Mogo Inc. (NASDAQ:MOGO) (TSX:MOGO) (“Mogo” or the “Company”),
one of Canada’s leading financial technology companies, today
announced that, during the three months ended September 30, 2023,
the Company repurchased and cancelled 134,502 shares under its
common share buyback program on NASDAQ and its normal course issuer
bid on the Toronto Stock Exchange (the “TSX”), which was
implemented in August 2023. For the fiscal year to date, the
Company has repurchased 254,456 shares under both buyback programs.
The Company currently has 24.7 million common shares issued and
outstanding.
Exchange
Shares Acquired in Q3
2023
Average Price
NASDAQ
124,102
US$1.7977
TSX
10,400
CA$2.0650
Mogo is repurchasing common shares under the buyback programs
because it continues to believe that the market price of its common
shares does not accurately reflect their underlying value and the
repurchasing for cancellation of such common shares is intended to
enhance long-term shareholder value.
All common share amounts and prices referred to in this press
release have been adjusted to reflect the Company's 3:1 share
consolidation that was implemented in August 2023.
About Mogo
Mogo, one of Canada’s leading digital finance companies, is
empowering its members with simple digital solutions to help them
build wealth and achieve financial freedom. Mogo’s trade app,
MogoTrade, offers commission-free stock trading that helps users
make a positive impact with every investment and together with
Moka, Mogo’s wholly-owned subsidiary bringing automated,
fully-managed flat-fee investing to Canadians, forms the heart of
Mogo’s digital wealth platform. Mogo also offers digital loans and
mortgages. Through Mogo’s wholly-owned subsidiary, Carta Worldwide,
we also offer a digital payments platform that powers the
next-generation card programs from innovative fintech companies in
Europe and Canada. To learn more, please visit mogo.ca or download
the mobile app (iOS or Android).
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version on businesswire.com: https://www.businesswire.com/news/home/20231005983833/en/
Craig Armitage Investor Relations investors@mogo.ca (416)
347-8954
US Investor Relations Contact Lytham Partners, LLC Ben Shamsian
New York | Phoenix shamsian@lythampartners.com (646) 829-9701
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