Mr. Telfer Hanson reports
MIMI'S ROCK CORP. ANNOUNCES NORMAL COURSE ISSUER BID
The TSX Venture Exchange has accepted Mimi's Rock Corp.'s notice to implement a normal course issuer bid (NCIB) to purchase for cancellation up to 3,029,109 of its common shares, representing approximately 10 per cent of the company's public float.
Management of the Company believes that the Shares have been trading in a price range which does not adequately reflect their value and that the purchase of the Shares under the NCIB is in the best interests of the Company, a desirable use of its available cash, and will enhance shareholder value in general.
The Company has received approval from the Exchange to commence the NCIB on November 29, 2019 and continue to November 28, 2020, or earlier in the event that the Company has acquired the maximum number of Shares that may be purchased under the NCIB. The Company may also terminate the NCIB earlier if it feels it is appropriate to so.
The NCIB will be made through the facilities of the Exchange and the purchase and payment for the Shares will be made in accordance with the Exchange requirements at the market price of the Shares at the time of acquisition. All Shares purchased by the Company under the NCIB will be cancelled. Under the NCIB, Shares may be purchased in open market transactions on the Exchange and/or alternative Canadian trading systems at the prevailing market price at the time of such transaction.
The Company has engaged Haywood Securities Inc. to act as its agent to conduct the NCIB transactions.
To the knowledge of the Company, no director, senior officer or other insider of the Company currently intends to sell any shares under the NCIB.
ABOUT THE COMPANY
Mimi's Rock Corp. (formerly Commerce Acquisition Corp.) is an online dietary supplement and wellness company operating under the Dr. Tobias brand. The brand features over 30 products including the top selling colon cleansing product and the No. 1 selling Omega 3 Fish Oil on Amazon. The Company currently serves customers in the United States and has rapid growth plans to expand into other markets.
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