TSX Venture Exchange accepts notice by Sabio
of its intention to buy back its shares
TORONTO, March 26,
2024 /CNW/ -- Sabio Holdings Inc. (TSXV:SBIO,
OTCQX: SABOF) ("Sabio" or the "Company"), a leading
provider of connected TV ("CTV") and over-the-top
("OTT") advertising platforms validated by performance, is
pleased to announce that the TSX Venture Exchange (the
"Exchange") has accepted a notice filed by the Company of
its intention to make a Normal Course Issuer Bid (the "Bid")
to be transacted through the facilities of the Exchange.
The board of directors of the Company (the "Board")
believes that the recent market prices of the Company's common
shares (the "Shares") do not properly reflect the underlying
value of such Shares. As a result, depending upon future price
movements and other factors, the Board believes that the purchase
of the Shares would be a desirable use of corporate funds in the
best interests of the Company and its shareholders. Furthermore,
the purchases are expected to benefit all persons who continue to
hold Shares by increasing their equity interest in the Company if
the repurchased Shares are cancelled.
The notice provides that the Company may, during the 12-month
period commencing April 2, 2024 and
ending April 1, 2025, purchase up to
852,184 Shares in total, being 5% of the total number of 17,043,687
Shares outstanding as at March 19,
2024. The Company also has 33,026,891 issued and outstanding
convertible restricted voting shares.
The price which the Company will pay for any such Shares will be
the prevailing market price at the time of acquisition. The actual
number of Shares which may be purchased pursuant to the Bid and the
timing of any such purchases will be determined by management of
the Company. Purchases under the Bid will be made from time to time
by Eight Capital on behalf of the Company.
All Share purchases will be made on the open market through the
facilities of the Exchange and will be purchased for cancellation.
The funding for any purchase pursuant to the Bid will be financed
out of the working capital of the Company. To the knowledge of the
Company, no director, senior officer or other insider of the
Company or any of their associates currently intends to sell any
common shares under this Bid, however sales by such persons through
the facilities of the Exchange or any other available market or
alternative trading system may occur if the personal circumstances
of any such persons changes or if any such persons make a decision
unrelated to these normal course purchases. The benefits to any
such person whose Shares are purchased would be the same as the
benefits available to all other holders whose Shares are
purchased.
Under the terms of the previous normal course issuer bid, the
Company had approval from the Exchange to acquire up to 754,571
Shares in the period between March 22, 2023 and March 21,
2024. No Shares were purchased under the previous normal
course issuer bid.
About Sabio
Sabio Holdings Inc. (TSXV: SBIO) (OTCQX: SABOF) is a
leading diverse-owned connected television (CTV) and over-the-top
(OTT) technology and service provider specializing in the
high-growth ad-supported video-on-demand (AVOD) and free
ad-supported streaming (FAST) space. Its cloud-based CTV/OTT
technologies empower brands and agencies to effectively reach,
engage, and better understand diverse audiences on streaming
platforms. The Sabio portfolio is comprised of: Sabio — our trusted
and transparent content monetization demand-side platform (DSP);
App Science™ — our cutting edge, non-panel based, real-time
measurement and attribution software-as-a-service (SAAS) platform;
and Vidillion — our cloud-based ad-insertion, and content
distribution and management platform.
For more information, visit: sabioholding.com
Neither the 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.
Forward-Looking Statements
Certain statements contained in this news release may be
deemed "forward‐looking statements" within the meaning of
applicable Canadian and U.S. securities laws. These forward‐looking
statements, by their nature, require Sabio to make certain
assumptions and necessarily involve known and unknown risks and
uncertainties that could cause actual results to differ materially
from those expressed or implied in these forward‐looking
statements. Forward looking statements are not guarantees of
performance. Words such as "may", "will", "would", "could",
"expect", "believe", "plan", "anticipate", "intend", "estimate",
"continue", or the negative or comparable terminology, as well as
terms usually used in the future and the conditional, are intended
to identify forward‐looking statements. This forward-looking
information is based on reasonable assumptions and estimates of
management of the Company at the time such assumptions and
estimates were made, and involves known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of the Company to be materially
different from any future results, performance or achievement
expressed or implied by such forward-looking information. Although
the forward-looking information contained in this news release is
based upon what management believes, or believed at the time, to be
reasonable assumptions, Sabio cannot assure shareholders and
prospective purchasers of securities of the Company that actual
results will be consistent with such forward looking information,
as there may be other factors that cause results not to be as
anticipated, estimated or intended, and neither Sabio nor any other
person assumes responsibility for the accuracy and completeness of
any such forward-looking information. Further, Sabio does not
undertake, and assumes no obligation, to update or revise any such
forward-looking statements or forward-looking information contained
herein to reflect new events or circumstances, except as may be
required by law.
This news release shall not constitute an offer to sell or
the solicitation of an offer to buy any securities in any
jurisdiction.
™ App Science is a trademark or registered trademark of Sabio
Inc. in the United States, Canada, and other
countries.
For further information: For further information: Sabio Holdings
Inc., Sajid Premji, Chief Financial
Officer - investor@sabio.inc, Phone: 1.844.974.2662;
Aideen McDermott, Investor Relations
Associate, investor@sabio.inc
SOURCE Sabio Inc.