Belgravia Hartford Announces Intended Normal Course Issuer Bid
Toronto, Ontario--(Newsfile Corp. - February 18, 2021) - BELGRAVIA HARTFORD CAPITAL INC. (CSE: BLGV) ("Belgravia" or the "Company") is pleased to announce that it intends to undertake a Normal Course Issuer Bid ("NCIB") commencing on February 23, 2021.
Mehdi Azodi, President and CEO, stated, "The Company's management and board of directors believe that from time to time the market price of Belgravia's common share price does not reflect the underlying value of the business and current assets, and that the purchase of common shares for cancellation at such times is a prudent corporate measure that will increase the proportionate interest in the Company and further shareholder value. The purpose of the NCIB is to facilitate this process."
As of February 17, 2021, the Company had 401,792,516 common shares issued and outstanding. Under the terms of the NCIB, Belgravia may acquire up to 20,089,626 of its common shares, representing 5% of its issued and outstanding common shares. Such common shares will be purchased only when and if the Company considers it advisable. The Company has appointed Leede Jones Gable to coordinate and facilitate its NCIB purchases.
The NCIB will terminate on the earlier of February 23, 2022 and the date on which the maximum number of Common Shares that can be acquired pursuant to the NCIB have been purchased. All shares purchased by the Company will be purchased on the open market through the facilities of the CSE and/or alternate Canadian trading systems at the market price at the time of purchase. Any common shares purchased pursuant to the NCIB will be cancelled by the Company.
About Belgravia Hartford
Belgravia Hartford Capital Inc. is a Canadian publically traded investment holding company which invests in public and private companies in legal jurisdictions and under the rule of law. Belgravia and its investments are high risk business ventures and expose shareholders to financial risks.
For more information, please visit www.belgraviahartford.com
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements include statements that use forward-looking terminology such as "may", "will", "expect", "anticipate", "believe", "continue", "potential" or the negative thereof or other variations thereof or comparable terminology. Such forward-looking statements include, without limitation, statements regarding planned investment activities & related returns, the timing for completion of research and development activities, the potential value of royalties, and other statements that are not historical facts. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, including, but not limited to, changes in market trends, the completion, results and timing of research undertaken by the Company, risks associated with resource assets, the impact of general economic conditions, commodity prices, industry conditions, dependence upon regulatory, environmental, and governmental approvals, and the uncertainty of obtaining additional financing. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.
For More Information, Please Contact:
Mehdi Azodi, President & CEO
Belgravia Hartford Capital Inc.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/74862