11:38:26 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Great Canadian Gaming Corp
Symbol GC
Shares Issued 68,929,878
Close 2015-02-23 C$ 19.38
Market Cap C$ 1,335,861,036
Recent Sedar Documents

Great Canadian to buy back up to 5.03 million shares

2015-02-23 16:17 ET - News Release

Mr. Rod Baker reports

GREAT CANADIAN GAMING ANNOUNCES RENEWAL OF NORMAL COURSE ISSUER BID

Great Canadian Gaming Corp. intends to renew a normal course issuer bid for up to 5,033,078 of its common shares, representing approximately 10 per cent of the company's common shares in the public float. Purchases will be made subject to opportunities within the market. As at Feb. 18, 2015, there were 68,929,878 common shares of the company outstanding. Purchases will be by way of open market purchases through the facilities of the Toronto Stock Exchange and other Canadian market places, and payment for the shares will be in accordance with the TSX's rules. No purchases will be made other than by means of open market transactions during the term of the normal course issuer bid and conducted at the market price at the time of acquisition. All shares purchased by the company will be subsequently cancelled.

"With Great Canadian's secure and flexible financial position, this share repurchase program is an important tool for improving shareholder value," stated Rod Baker, Great Canadian's president and chief executive officer. "The normal course issuer bid will be employed opportunistically, while considering the company's future cash needs for operating and development purposes."

The company received approval from the TSX to commence this bid on Feb. 26, 2015. The bid will end on Feb. 25, 2016, or earlier if the number of shares sought in the issuer bid have been obtained. The company will not purchase shares during its self-imposed blackout periods and reserves the right to terminate the bid earlier if it feels it is appropriate to do so. Pursuant to TSX policies, daily purchases made by the company will not exceed 34,220 common shares, or 25 per cent of the prior six-month average daily trading volume of 136,878 common shares on the TSX, subject to certain prescribed exceptions.

In the event that insiders intend to sell securities of the company during the course of the bid, the company will not purchase such securities under the bid when advised of such sales. During the last 12 months, the company purchased and cancelled 800 common shares at a volume-weighted average price of $14.02 per share.

We seek Safe Harbor.

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