VANCOUVER, BC, July 6, 2021 /PRNewswire/ – BBTV Holdings Inc. (TSX:BBTV)(OTCQX:BBTVF) (“BBTV” or the “Company“), today announced that it has filed its Notice of Intention to make a Normal Course Issuer Bid (“NCIB“) with the Toronto Stock Exchange (“TSX“). The NCIB remains subject to approval by the TSX.
BBTV believes that share purchases pursuant to the NCIB will contribute to the facilitation of an orderly market and be in the best interests of the Company and its shareholders. In the event that BBTV believes that its subordinate voting shares (“Subordinate Voting Shares“) begin trading in a price range that does not adequately reflect their underlying value based on BBTV’s business prospects and financial position, BBTV may purchase Subordinate Voting Shares pursuant to the NCIB. Depending upon future price movements and other factors, BBTV believes that its outstanding Subordinate Voting Shares represent an attractive investment and that the NCIB is a desirable use of a portion of its available corporate funds.
Under the NCIB, if approved by the TSX, the Company may acquire, over a 12-month period, up to an aggregate of 5% of the Subordinate Voting Shares of the Company issued and outstanding on the date of TSX approval of the NCIB.
Purchases subject to this NCIB will be carried out pursuant to open market transactions through the facilities of the TSX and any other available markets and alternative trading systems in Canada by a broker on behalf of the Company in accordance with applicable regulatory requirements. All Subordinate Voting Shares purchased by the Company under the NCIB will be returned to treasury and canceled.
To the knowledge of the Company, no director, senior officer, or other insiders of the Company or any of their associates currently intends to sell any Subordinate Voting Shares under this bid. However, sales by such persons through the facilities of the TSX or any other available market or alternative trading system in Canada 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 Subordinate Voting Shares are purchased would be the same as the benefits available to all other holders whose Subordinate Voting Shares are purchased. The commencement and termination dates for this NCIB will be announced once the NCIB has been approved by the TSX.
About BBTV
BBTV Holdings Inc. (TSX:BBTV)(OTCQX:BBTVF) (“BBTV” or the “Company“) is a global media and technology company headquartered in Vancouver, Canada. The Company’s mission is to help content creators become more successful. With creators ranging from individuals to global media brands, BBTV provides comprehensive, end-to-end Solutions to increase viewership and drive revenue powered by its innovative technology, while allowing creators to focus on their core competency – content creation. In January 2021, BBTV had the second most unique monthly viewers among digital platforms with more than 600 million globally, who consumed more than 50 billion minutes of video content, the most among media companies [1]. (www.bbtv.com)
[1] Calculations and classifications made by BBTV based on data from Comscore’s “Top 12 Countries = January 2021 comScore Video Metrix Media Trend – Multi-Platform – Top 100 Video Properties Report”; Top 12 countries represent ~50% of world’s digital population.
Notice Regarding Forward-Looking Statements
This news release contains forward-looking information within the meaning of applicable securities legislation, including statements with regard to the expectation that, if the NCIB is approved by the TSX, the Company will conduct a NCIB and purchase the maximum number of Subordinate Voting Shares permissible thereunder as described in this news release. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the Company’s control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking information. The Company assumes that the NCIB will be approved by the TSX; however, there can be no assurance that approval will be obtained and the timing for such approval. Forward-looking information is qualified in its entirety by the inherent risk and uncertainties surrounding the NCIB, including: that the TSX may not approve the NCIB; the Company’s broker may not carry out trades as and when instructed under the NCIB; and the general risk factors disclosed in the Company’s periodic reports publicly filed and available at www.sedar.com. The Company does not undertake any obligation to update such forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.
SOURCE BBTV Holdings Inc.
