VANCOUVER, Feb. 5, 2020 /CNW/ - Minco Capital Corp.
(the "Company" or "Minco Capital") (TSX-V: MMM/OTCQX:
MGHCF/FSE:MI5) today announced that it has received conditional
acceptance from the TSX Venture Exchange ("TSXV") for a Normal
Course Issuer Bid ("NCIB") to purchase for cancellation,
during the 12-month period starting February
10, 2020, up to 2,427,844 or 5% of the current issued and
outstanding Common Shares. The program will end on February 9, 2021 unless the maximum amount of
Common Shares is 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 in accordance with TSXV
policies. The Company reserves the right to terminate the NCIB
earlier if it feels it is appropriate to do so.
Minco Capital believes that the market price of its Common
Shares may not reflect their underlying value and the Board of
Directors has authorized this initiative because, in the Board's
opinion, the proposed purchase of Common Shares pursuant to the
NCIB constitutes an appropriate use of Minco Capital's funds, and
the repurchase of its Common Shares are expected to benefit all
remaining shareholders by increasing their equity interest in the
Company.
The TSXV allows for purchase up to 2% of Common Shares in a
given 30-day period. No purchases will be made other than by means
of open market transactions or by such other means as may be
permitted under applicable securities laws during the term of the
NCIB. The shares purchased by the Company will be returned to
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 insider of the Company 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
Leigh"
President
About Minco Capital
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 as well as
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 policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
SOURCE Minco Capital Corp.