SOL Global Announces Completion of Normal Course Issuer Bid for Purchase of 5% of Company's Common Shares
TORONTO, /PRNewswire/ - SOL Global Investments Corp. ("SOL Global" or the "Company") (CSE: SOL) (OTCQB: SOLCF) (Frankfurt: 9SB) is pleased to announce the completion of its normal course issuer bid ("NCIB") for the purchase of 2,451,861 of the Company's common shares, representing approximately 5% of its issued and outstanding common shares at the time of the commencement of the NCIB. The shares were purchased through the facilities of the Canadian Securities Exchange at an average purchase price of $2.00 per share. The NCIB — which commenced on October 8, 2018 — was completed ahead of schedule.
Clarus Securities Inc. acted as the Company's broker to conduct the NCIB on the Company's behalf. All of the common shares purchased by the Company under the NCIB have been cancelled. The Company's new number of issued and outstanding shares is 47,009,520.
About SOL Global Investments Corp.
SOL Global is an international investment company with a focus on, but not limited to, cannabis and cannabis related companies in legal U.S. states, the hemp and CBD marketplaces and the emerging European cannabis and hemp marketplaces. Its strategic investments and partnerships across cultivation, distribution and retail complement the company's R&D program with the University of Miami. It is this comprehensive approach that is positioning SOL Global as a future frontrunner in the United States' medical cannabis industry.
The securities referred to in this news release have not been and will not be registered under the United States Securities Act of 1933, as amended ("U.S. Securities Act"), or any state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent such registration or an applicable exemption from the registration requirements of the U.S. Securities Act. This news release does not constitute an offer for sale of securities for sale, nor a solicitation for offers to buy any securities.
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SOURCE SOL Global Investments Corp.
Company Codes: CNSX:SOL, OTC-QB:SOLCF