NEW YORK, Sept. 30, 2024 /PRNewswire/ - Reklaim Ltd., (TSXV: MYID) (OTC: MYIDF) ("Reklaim"), the destination where consumers can view, edit, add, and option their data to brands and platforms for direct compensation, announces it has received approval from the TSX Venture Exchange ("TSXV") to implement, at the Company's discretion, a normal course issuer bid ("NCIB") to purchase up to 7,789,020 of its common shares.
Reklaim your data $MYID $MYIDF (CNW Group/Reklaim Ltd.)
The Company is commencing the NCIB because it believes that the market may not always fully reflect the underlying value of the Company's business. The repurchase of its common shares at those times is deemed to be in the best interests of its shareholders, instilling confidence in the company's future.
The Company has 116,738,379 common shares issued and outstanding as of the date hereof. Under the NCIB, Reklaim may repurchase up to 10% of the number of Common Shares comprising its public float, which currently equals 7,789,020 common shares.
The NCIB will commence on September 30th, 2024, and continue until September 30th, 2025, or until the company has repurchased the maximum allowable number of common shares. Reklaim reserves the right to terminate the NCIB at any time. All shares purchased under this program will be canceled and returned to the treasury.
Purchases will be made through the TSXV or an alternative Canadian trading platform at prevailing market prices per the TSXV's policies. Due to its expertise and reputation in the market, the Company has engaged ClarusSecurities Inc. to act as the broker for the NCIB.
Q2 CEO Letter:
Chapter 2, 2024
I often view these MD&A updates as chapters in a book, a narrative that unfolds over time. This 'book' has six sections, starting in 2019, each year containing four chapters (quarters). When we launched this company in the shell of its predecessor, Freckle, the world began to shelter in place as COVID-19 inflected. Starting a nascent business during that time was challenging. We really had no business being a public company at that stage, but with the world closed and capital non-existent, we decided to put our heads down and build the product. Read the full CEO-Q2 letter here: https://www.investors.reklaimyours.com/press/q2-2024-ceo-letter
About Reklaim
Reklaim is committed to navigating the evolving landscape of consumer data privacy. We provide compliant, zero-party data solutions to Fortune 500 brands, platforms, and data companies. Our platform empowers consumers to reclaim control over their data, enabling them to view and manage information collected with direct authorization. Moreover, users can be compensated for their data through a Reklaim account. Discover more about Reklaim at https://investors.reklaimyours.com.
Certain statements contained in this press release constitute forward-looking information within the meaning of Canadian securities laws. Forward-looking statements are provided to assist the reader in understanding Reklaim's current expectations and plans (including the NCIB) relating to the future. Readers are cautioned that such statements may not be appropriate for other purposes. Investors are cautioned that there is no assurance that any acquisitions will be completed under the NCIB. Forward-looking information may relate to Reklaim's future outlook and anticipated events and may include statements regarding the financial position, business strategy, budgets, litigation, projected costs, capital expenditures, financial results, taxes, and plans and objectives of or involving Reklaim. Particularly, statements regarding future acquisitions, the availability of credit, performance, achievements, prospects, or opportunities for Reklaim or the industry in which it operates are forward-looking statements. In some cases, forward-looking information can be identified by terms such as "may," "might," "will," "could," "should," "would," "occur," "expect," "plan," "anticipate," "believe," "intend," "seek," "aim," "estimate," "target," "project," "predict," "forecast," "potential," "continue," "likely," "schedule," or the negative thereof or other similar expressions concerning matters that are not historical facts.
Information contained in forward-looking statements is based upon certain material assumptions that were applied in drawing a conclusion or making a forecast or projection, including management's perceptions of historical trends, current conditions, and expected future developments, as well as other considerations that are believed to be appropriate in the circumstances. While management considers these assumptions reasonable based on currently available information, they may prove incorrect.
The forward-looking statements made in this press release are dated and relate only to events or information as of the date of this press release. Except as specifically required by law, Reklaim undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events, or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
