TORONTO, Nov. 27, 2019 /CNW/ - Mimi's Rock
Corp. (the "Company") is pleased to announce that the TSX
Venture Exchange (the "Exchange") has accepted the Company's notice
to implement a normal course issuer bid ("NCIB") to purchase, for
cancellation, up to 3,029,109 of its common shares (the "Shares"),
representing approximately 10% of the Company's "public float".
Management of the Company believes that the Shares have been
trading in a price range which does not adequately reflect their
value and that the purchase of the Shares under the NCIB is in the
best interests of the Company, a desirable use of its available
cash, and will enhance shareholder value in general.
The Company has received approval from the Exchange to commence
the NCIB on November 29, 2019 and
continue to November 28, 2020, or
earlier in the event that the Company has acquired the maximum
number of Shares that may be purchased under the NCIB. The Company
may also terminate the NCIB earlier if it feels it is appropriate
to so.
The NCIB will be made through the facilities of the Exchange and
the purchase and payment for the Shares will be made in accordance
with the Exchange requirements at the market price of the Shares at
the time of acquisition. All Shares purchased by the Company under
the NCIB will be cancelled. Under the NCIB, Shares may be purchased
in open market transactions on the Exchange and/or alternative
Canadian trading systems at the prevailing market price at the time
of such transaction.
The Company has engaged Haywood Securities Inc. to act as its
agent to conduct the NCIB transactions.
To the knowledge of the Company, no director, senior officer or
other insider of the Company currently intends to sell any shares
under the NCIB.
ABOUT THE COMPANY
Mimi's Rock Corp. (formerly Commerce Acquisition Corp.) is
an online dietary supplement and wellness company operating under
the Dr. Tobias brand. The brand features over 30 products including
the top selling colon cleansing product and the #1 selling Omega 3
Fish Oil on Amazon.com. The Company currently serves customers in
the United States and has rapid
growth plans to expand into other markets.
Forward Looking Statements
This news release may contain forward-looking statements or
"forward-looking information" within the meaning of applicable
Canadian securities laws ("forward-looking statements").
Often, but not always, forward-looking statements can be identified
by the use of words such as "plans", "expects" or "does not
expect", "is expected", "budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates" or "does not anticipate", or
"believes", or describes a "goal", or variation of such words and
phrases or state that certain actions, events or results "may",
"could", "would", "might" or "will" be taken, occur or be
achieved.
All forward-looking statements reflect the Company's beliefs
and assumptions based on information available at the time the
statements were made. Actual results or events may differ from
those predicted in these forward-looking statements. All of the
Company's forward-looking statements are qualified by the
assumptions that are stated or inherent in such forward-looking
statements.
Forward-looking statements involve known and unknown risks,
future events, conditions, uncertainties and other factors which
may cause the actual results, performance or achievements to be
materially different from any future results, prediction,
projection, forecast, performance or achievements expressed or
implied by the forward-looking statements. Such factors include,
among others, internal and external factors disclosed in the most
recent annual information form of the Company and other documents
publicly filed by the Company. Although the Company has attempted
to identify important factors that could cause actual actions,
events or results to differ materially from those described in
forward-looking statements, there may be other factors that cause
actions, events or results not to be as anticipated, estimated or
intended. There can be no assurance that forward-looking statements
will prove to be accurate, as actual results and future events
could differ materially from those anticipated in such statements.
Accordingly, readers should not place undue reliance on
forward-looking statements.
The Company disclaims any intention or obligation to update
or revise any forward-looking statements whether as a result of new
information, future events, or otherwise, except in accordance with
applicable securities laws.
This press release does not constitute an offer to sell or a
solicitation of an offer to buy any of the securities in
the United States. The securities
have not been and will not be registered under the United States
Securities Act of 1933, as amended (the "U.S. Securities
Act") or any state securities laws and may not be offered or
sold within the United States or
to U.S. Persons unless registered under the U.S. Securities Act and
applicable state securities laws or an exemption from such
registration is available. Not for distribution to U.S. Newswire
Services or for dissemination in the
United States. Any failure to comply with this restriction
may constitute a violation of U.S. Securities laws.
SOURCE Mimi's Rock Inc.