• About
  • Advertise
  • Privacy Policy
  • Contact
Friday, May 20, 2022
  • Login
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Job Vacancies
No Result
View All Result
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Job Vacancies
No Result
View All Result
The Vaultz News
No Result
View All Result

Xtra Gold Gets nod to buyback 4 million Shares of the Company

March 15, 2022
Stephen AbankwahbyStephen Abankwah
in Extractives/Energy
0
mining

Gold bars stacked together

Toronto-listed and Ghana-based Xtra Gold Resources, has received a green light from the Toronto Stock Exchange (TSX) to proceed with a normal course issuer bid to purchase up to 4,000,000 common shares of the Company.

This is in response to a notice it filed with the TSX, intended to renew its prior normal course issuer bid for a further one year period, commencing this year because it believes the current market price of its common shares may not fully reflect the underlying value of the Company’s business and its future business prospects.

The Company believes that “the purchase of common shares for cancellation is in the best interests of the Company’s shareholders” as it will increase the respective proportionate shareholdings of the shareholders and therefore increase the respective equity interest in the Company for all remaining shareholders.

RelatedPosts

Global: Autonomous Mining Trucks Population to Reach 1,800 by 2025

GOIL Cashes in on Rising Fuel Prices as Profits Surge Over 91 Percent

Newmont Updates “Accelerated Response” to Climate Change

As at March 9, 2022, the Company had 46,585,917 common shares issued and outstanding. The 4,000,000 common shares that may be purchased by the Company under the 2022 Bid represent approximately 10% of the public float (41,587,062 as at March 9, 2022) of the Company.

Xtra Gold’s chief executive officer, James Longshore, said:

“The 2022 Bid will commence on March 16, 2022 and terminate on March 15, 2023 or at such earlier date in the event that the number of shares sought in the 2022 Bid has been repurchased. The Company reserves the right to terminate the 2022 Bid earlier if it feels that it is appropriate to do so.

“All shares will be purchased on the open market through the facilities of the Toronto Stock Exchange (TSX), and payment for the common shares will be in accordance with TSX policies. The price paid for the common shares will be the market price at the time of purchase. Purchasing may be suspended at any time, and no purchases will be made other than by means of open market transactions during the term of the 2022 Bid.”

James Longshore
GoldNIGER
Gold bar amid gold bullion coins

Maximum Shares to be Paid on a Daily Basis

On a daily basis, the maximum number of common shares that may be purchased is 3,502 common shares representing 25 per cent of the average daily trading volume of 14,009 for the last six calendar months.

However, there is an exception to the rule. That is, where purchases are made in accordance with ‘block purchases’, exemptions under TSX policies will apply. The common shares purchased by the Company will therefore be cancelled.

For the purpose of completing this transaction successfully, the Company has engaged Haywood Securities Inc. to act as broker through which the 2022 Bid will be conducted. Meanwhile, previous purchases were made by the Company under a prior normal course issuer bid (2021 Issuer Bid) the results of which are noted hereunder.

Recall that, pursuant to a previous notice of intention to conduct a normal course issuer bid (2021 issuer bid), the Company sought and received approval from the TSX to purchase up to 4,000,000 common Shares for the period of March 16, 2021 to March 15, 2022. As at February 28, 2022, the Company had purchased 414,000 Common Shares on the open market at an average purchase price of $0.995 per share.

READ ALSO: We Can Use Technology Efficiently to Make Sure MPs Are in Parliament- Prof Abdulai

Tags: exchangesharesTorontoXtra Gold

Send your news stories to [email protected] and via WhatsApp on +233543050759.

Related Posts

mining
Extractives/Energy

Global: Autonomous Mining Trucks Population to Reach 1,800 by 2025

May 20, 2022
profit
Extractives/Energy

GOIL Cashes in on Rising Fuel Prices as Profits Surge Over 91 Percent

May 20, 2022
climate
Extractives/Energy

Newmont Updates “Accelerated Response” to Climate Change

May 19, 2022
project
Extractives/Energy

Ghana: Guskin’s Partner for Kukuom Gold Project Gets Green Light to Start Exploration Activities

May 19, 2022
gold
Extractives/Energy

BoG Bets on Local Gold Purchase Programme to Stabilize the Cedi

May 18, 2022
forest
Extractives/Energy

Ghana: Rescind EI 144 and Preserve Integrity of Achimota Forest- Group to President

May 18, 2022

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Previous Post

We Can Use Technology Efficiently to Make Sure MPs Are in Parliament- Prof Abdulai

Next Post

Ghanaians Descend on Chief of Staff for Sponsoring Afia Schwarzenegger’s Father’s Funeral

Sign up for The Vaultz analytic wire

Get weekly news analysis from top editors at The Vaultz and stay informed on trending economic and business issues from across the globe.
Mercedes AMG Confirms Vision For Electric Future
Wheels

Mercedes AMG Confirms Vision For Electric Future

by Stephen M.CMay 20, 2022
Country Director for Global Professional HR Certification, Dr Jeff Bassey, has revealed that salaries for employees in an organisation is a critical engagement drive.
General News

International HR Day: Compensation is a critical engagement drive- HR Expert

by Angeller AshongMay 20, 2022
African Development Bank Board Approves $1.5 Billion Facility To Avert Food Crisis
Africa

African Development Bank Board Approves $1.5 Billion Facility To Avert Food Crisis

by Stephen KotochieMay 20, 2022
Mechanical Engineer Supervisor
Job Vacancies

Mechanical Engineer Supervisor Needed For Hiring

by thevaultzMay 20, 2022
mining
Extractives/Energy

Global: Autonomous Mining Trucks Population to Reach 1,800 by 2025

by Stephen AbankwahMay 20, 2022
North Korea: Fighting Covid With Traditional Medicine
Asia

North Korea: Fighting Covid With Traditional Medicine

by Edem NyonatorMay 20, 2022
Mercedes AMG Confirms Vision For Electric Future
Country Director for Global Professional HR Certification, Dr Jeff Bassey, has revealed that salaries for employees in an organisation is a critical engagement drive.
African Development Bank Board Approves $1.5 Billion Facility To Avert Food Crisis
Mechanical Engineer Supervisor
mining
North Korea: Fighting Covid With Traditional Medicine
Snow
FIND OUT MORE

The Vaultz News

Copyright © 2021 The Vaultz News. All rights reserved.

Navigate Site

  • About
  • Advertise
  • Privacy Policy
  • Contact

Follow Us

No Result
View All Result
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2D
  • Job Vacancies

Copyright © 2021 The Vaultz News. All rights reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In