Mr. Amit Bohensky reports
ZOOMD TECHNOLOGIES ANNOUNCES APPROVAL OF NORMAL COURSE ISSUER BID
Zoomd Technologies Ltd. intends to initiate a normal course issuer bid (NCIB) through the facilities of the TSX Venture Exchange and/or alternative trading systems to repurchase, for cancellation, up to 7,987,767 common shares of the company, representing approximately 10 per cent of the company's public float (as defined by the TSX-V) or approximately 7.9 per cent of the total number of the shares issued and outstanding. The company has also entered into an automatic share purchase plan (ASPP) with a broker in order to facilitate repurchases of the shares.
The company believes that purchases of its shares pursuant to the NCIB may contribute to the facilitation of an orderly market and be in the best interests of the company and its shareholders. In the event that the company believes that its shares begin trading in a price range that does not adequately reflect their underlying value based on the company's business prospects and financial position, the company may purchase shares pursuant to the NCIB. Depending upon future price movements and other factors, the company believes that its outstanding shares may represent an attractive investment and a desirable use of a portion of its corporate funds.
The company believes the current market valuation of Zoomd does not appropriately reflect the strength of its balance sheet, its long-term business prospects, and the strategic initiatives currently under way, and the strategic position the company continues to build in the market. With a significant amount of cash on hand, no bank debt and continued positive operating cash flow, the company believes that it is in a strong position to continue investing in growth initiatives while also executing on this capital allocation strategy. Importantly, the NCIB provides the company with flexibility. The company will remain disciplined and opportunistic in how it approaches share repurchases, while continuing to prioritize long-term value creation for shareholders.
The company has received acceptance from the TSX-V of its notice of intention to make an NCIB. The NCIB is expected to commence on May 29, 2026. The NCIB may extend for a period of up to 12 months from the commencement date unless the maximum amount of common shares is purchased before then or the company provides earlier notice of termination.
All purchases by the company under the NCIB will be made through ATB Capital Markets Corp. as broker dealer of the company and all shares purchased under the NCIB will be cancelled. The price paid for the common shares will be, subject to NCIB pricing rules contained in securities laws, the prevailing market price of such shares on the TSX-V and/or alternative trading systems at the time of such purchase. The company intends to finance the purchases out of available cash, revenues and/or working capital. During the effective period of the company's ASPP, the company's broker may purchase shares at times when the company would not be active in the market due to insider trading rules and its own internal trading blackout periods. Purchases will be made by the company's broker based upon parameters set by the company when it is not in possession of any undisclosed material information about itself and its securities, and in accordance with the terms of the ASPP. Outside of the effective period of the ASPP, shares may continue to be purchased in accordance with the company's discretion, subject to applicable law. The ASPP has been entered into in accordance with the requirements of applicable Canadian securities laws.
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 shares under the NCIB. However, sales by such persons through the facilities of the TSX-V or any other available market or alternative trading system may occur if the personal circumstances of any such person change or if any such person makes 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.
About Zoomd
Technologies Ltd.
Zoomd, established in 2012 and listed on the TSX Venture Exchange since September, 2019, provides an innovative mobile app user acquisition platform that integrates with numerous global digital media outlets. This platform presents a unified view of multiple media sources, thereby serving as a comprehensive user acquisition control center for advertisers. It streamlines campaign management through a single point of contact, simplifying customer acquisition efforts. The consolidation of media sources onto one platform enables Zoomd to offer advertisers substantial savings by reducing the need for disparate data source integration, enhancing data collection and insights, and minimizing resource expenditure.
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