Planet Ventures Renews NCIB, Buying Back Up to 5% of Shares
Planet Ventures Inc. (CSE: PXI) is renewing its normal course issuer bid (Renewed NCIB), set to commence on October 6, 2025. The company has engaged Ventum Financial Corp. to facilitate the acquisition of up to 10,206,333 common shares, representing 5% of its issued and outstanding shares. All acquired shares will be returned to the treasury and cancelled.
Planet Ventures Inc., an investment issuer focused on disruptive companies and industries with high growth potential, believes the current market price of its shares may not fully reflect the underlying value of its business and future prospects. This belief has led the company to initiate the Renewed NCIB as an appropriate use of its available funds.
The Renewed NCIB will end on October 5, 2026, or earlier if the maximum number of shares is purchased or the company provides notice of termination. The company's previous normal course issuer bid, the 2024 NCIB, was from July 16, 2024, to July 16, 2025, during which it repurchased 6,499,000 shares for cancellation at an average price of $0.03 per share.
Planet Ventures Inc. has engaged Ventum Financial Corp. to conduct the Renewed NCIB, with all acquired shares to be returned to the treasury and cancelled. The company's aim is to purchase up to 10,206,333 common shares, representing 5% of its issued and outstanding shares, reflecting its confidence in its business and future prospects.
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