VANCOUVER, BC, Aug. 12,
2024 /CNW/ - In connection with the Normal
Course Issuer Bid ("NCIB") previously announced on
November 10, 2023, Thinkific Labs
Inc. ("Thinkific" or the "Company") (TSX: THNC), a
leading platform for creating, marketing and selling online
learning products, announced that it has terminated the automatic
share purchase plan (the "Existing ASPP") previously
entered into with Cormark Securities Inc. (the "Broker") and
established a new automatic share purchase plan (the "New
ASPP") with the Broker.
Under the New ASPP, the Company has authorized the Broker to
purchase Subordinate Voting Shares of the Company (each, a
"SVS") under the NCIB during blackout periods implemented
under the Company's Insider Trading Policy ("Blackout
Periods") and outside of Blackout Periods only when instructed
by the Company from time to time during the term of the New ASPP.
The New ASPP will terminate on November 8,
2024, or earlier if the aggregate number of SVSs purchased
under the NCIB reaches the Maximum Limit (as defined below) or if
the NCIB has been terminated by the Company.
Trading limits and other parameters for purchases during
Blackout Periods under the New ASPP have been pre-determined
between the Company and the Broker in accordance with the rules and
policies of the TSX and applicable securities laws.
Under the NCIB, the Company may purchase for cancellation up to
an aggregate of 2,444,358 SVSs (the "Maximum Limit"),
representing approximately 10% of the public float (as defined in
the rules and policies of the TSX) of the SVSs as of October 30, 2023. Under the NCIB, other than
purchases made under a block purchase exception in accordance with
the rules and policies of the TSX, the Company may acquire, from
time to time, up to 5,296 SVSs per day on the TSX, being 25% of the
average daily trading volume of the SVSs for the period from
May 1, 2023 to October 31, 2023. Under the NCIB, purchases will
be made through the facilities of the TSX, and/or permitted
alternative Canadian trading systems, at prevailing market prices
or such other prices as permitted under the rules and policies of
the TSX and applicable securities laws. All SVSs purchased by the
Company under the NCIB will be cancelled.
At the time of terminating the Existing ASPP and establishing
the New ASPP, Thinkific was not aware of or in possession of any
material undisclosed information about the Company, the SVSs or any
other of its securities.
About Thinkific
Thinkific (TSX:THNC) makes it simple for Creator Educators and
established businesses of any size to scale and generate revenue by
teaching what they know. Our Platform gives businesses everything
they need to build, market, and sell digital learning products -
from courses to communities - and to run their business seamlessly
under their own brand, on their own site. Thinkific's 50,000+
active creators earn hundreds of millions of dollars in direct
course, membership and community sales while teaching tens of
millions of students. Thinkific is headquartered in Vancouver, Canada, with a distributed
team.
This news release includes forward-looking statements and
forward–looking information within the meaning of applicable
securities laws ("forward-looking statements'"). Forward-looking
statements are based on Thinkific's current expectations,
estimates, projections and assumptions made in light of information
available to it at the time such forward-looking statements are
made and considers Thinkific's experience and its perception of
trends. Forward-looking statements in this news release include
statements regarding its intention to continue the NCIB, the
termination of the Existing ASPP and the establishment of the New
ASPP, the reasons for the NCIB, the timing and amount of purchases
under the NCIB and the New ASPP and the cancellation of the SVSs
purchased under the NCIB. Although Thinkific's management believes
that the assumptions underlying these statements and information
are reasonable, they may prove to be incorrect. Except as required
by applicable securities laws, forward–looking statements and
information speak only as of the date on which they are made and
Thinkific undertakes no obligation to publicly update or revise any
forward–looking statement or information, whether as a result of
new information, future events or otherwise.
Forward-looking statements and information are not guarantees
of future performance and involve a number of risks and
uncertainties, some that are similar to other companies with online
learning products and some that are unique to Thinkific.
Thinkific's actual results may differ materially from those
expressed or implied by its forward-looking statements, so readers
are cautioned not to place undue reliance on them.
The Annual Information Form of the Company dated March 4, 2024 and other documents filed by it
from time to time with securities regulatory authorities describe
in greater detail the risks, uncertainties, material assumptions
and other factors that could influence actual results and such
factors are incorporated herein by reference. Copies of these
documents are available under our profile on SEDAR+ at
www.sedarplus.ca.
SOURCE Thinkific Labs Inc.