VANCOUVER, BC, June 21,
2024 /CNW/ - WALL FINANCIAL CORPORATION (TSX: WFC)
(the "Company") announced today that the Toronto Stock
Exchange (the "Exchange") has approved an amendment to its
previously approved normal course issuer bid (the "Bid") to
allow the Company to purchase common shares by other means
permitted by applicable securities laws, including by off exchange
private agreement or in reliance on certain issuer bid exemptions
set out in National Instrument 62-104 – Take-Over Bids and
Issuer Bids ("NI 62-104"). No other terms of the
Bid have been amended. The effective date of the amendment is
June 21, 2024. To date, the Company
has purchased 43,200 Shares for cancellation since the commencement
of the Bid on March 18, 2024.
Wall Financial Corporation Announces
Amendment of Normal Course Issuer Bid
The Bid, which began on March 18,
2024 and will end no later than March
17, 2025, was approved by the Company's board of directors
(the "Board") and by the Exchange and is made in accordance
with the applicable rules and policies of the Exchange, and
applicable Canadian securities laws. Under the Bid, Shares may be
repurchased in open market transactions on the Exchange and/or
alternative Canadian trading systems, or by such other means as may
be permitted by applicable Canadian securities laws.
The Company further announced today that it will purchase 80,000
common shares from a prior officer and director of the Company by
way of an off exchange private agreement at a price of $19.00 per common share for a total purchase
price of $1,520,000 (the
"Purchase"). The Purchase satisfies the requirements of the
Employee, executive officer, director and consultant
exemption set out in section 4.7 of NI 62-104. The Purchase
will be included when calculating the Company's total number of
shares available to purchase under the Bid, being 672,142 common
shares, being approximately 10% of the Company's Public Float (as
that term is defined in the policies of the Exchange) as at
March 13, 2024.
For more information regarding the terms of the Bid, please see
the Company's news release dated March 13,
2024.
About Wall Financial
Corporation
Wall Financial Corporation is a B.C. based real estate company
active in the development and management of residential and
commercial rental units, development and construction of
residential housing for resale, and the development and management
of hotel properties. For further information, contact Bruno Wall, President, Wall Financial
Corporation, 1010 Burrard Street, Vancouver, British Columbia V6Z 2R9,
604.893.7131.
Forward Looking
Information
This news release contains information that is forward-looking.
Information is forward-looking when the Company uses what we know
and expect today to give information about the future.
Forward-looking information in this news release includes, but is
not limited to, statements with respect to the terms under which
the Bid will be operated. All such forward-looking statements are
made pursuant to the 'safe harbour' provisions of applicable
Canadian securities laws.
Unless otherwise indicated, forward-looking information in this
news release reflects the Company's expectations at the date in
this news release. Except as may be required by Canadian securities
laws, the Company does not undertake any obligation to update or
revise any forward-looking information, whether as a result of new
information, future events, or otherwise.
Forward-looking information, by its very nature, is subject to
numerous risks and uncertainties and is based on a number of
assumptions. This gives rise to the possibility that actual results
could differ materially from the expectations expressed in or
implied by such forward-looking information and that the Company's
business outlook, objectives, plans, strategic priorities and other
information that is not historical fact may not be achieved. As a
result, the Company cannot guarantee that any forward-looking
information will materialize.
Forward-looking information is provided in this news release for
the purpose of giving information about the Company's current
expectations and plans and allowing investors and others to have a
better understanding of the Company's operating environment.
However, readers are cautioned that it may not be appropriate to
use such forward-looking information for any other purpose.
SOURCE Wall Financial Corporation