Edmonton, Alberta--(Newsfile Corp. - April 14, 2025) - Titan Logix Corp. (TSXV: TLA) ("Titan" or the "Company"), a technology company specializing in mobile liquid measurement solutions, is pleased to announce that the TSX Venture Exchange ("TSXV") has accepted the Company's notice of intention to implement a Normal Course Issuer Bid ("NCIB").
Under the NCIB, the Company may purchase for cancellation up to 1,759,649 common shares representing approximately 10% of the public float of its issued and outstanding common shares as of April 17, 2025, commencing on that date and ending on April 16, 2026, or such earlier date as the NCIB is completed or terminated at the Company's discretion. To facilitate the NCIB, the Company has implemented an Automatic Share Purchase Plan ("ASPP") with its designated broker, Raymond James Ltd in accordance with TSXV Policy 5.6 and applicable securities laws.
All purchases under the NCIB will be made through the facilities of the TSXV or other recognized Canadian marketplaces in accordance with TSXV Policy 5.6 and the terms of the ASPP, including applicable pricing limits under the ASPP. Any common shares purchased under the NCIB will be cancelled. The Company has not purchased any of the securities that are the subject of this NCIB. The ASPP allows for purchases of shares under the NCIB at times when the Company may otherwise be restricted from buying shares due to insider trading rules or corporate blackout periods. As of April 17, 2025, the implementation date of the ASPP, the Company is not in possession of any undisclosed material information and not in a blackout period. Under the ASPP, the common shares will be repurchased over a 12-month period commencing on April 17, 2025, and ending on April 16, 2026, unless terminated earlier in accordance with the ASPP.
The ASPP permits the Company to terminate the agreement at its sole discretion, provided it is not in possession of any undisclosed material information and not in a blackout period, by providing its broker with twenty (20) days' written notice. Promptly following such notice, the Company shall issue a press release confirming the termination and stating that it was not in possession of any undisclosed material information at the time of termination. The ASPP will automatically terminate when the maximum amount of shares are purchased or if the Company makes a public announcement regarding a public offering, an intention to undertake a change in control transaction, the Company's intention to effect a sale from a control block or control distribution, a take-over bid or form of business combination of which securities would be exchanged for or converted into cash, securities or other property.
The Board of Directors believes that the current market price of the Company's shares does not fully reflect the underlying value of the Company's business and prospects. As such, the NCIB represents an appropriate use of the Company's financial resources and demonstrates the Board's confidence in Titan's long-term strategy and growth potential.
The Company remains committed to executing its strategic plan while maintaining financial flexibility. The Board will continue to assess market conditions and other relevant factors to determine the appropriate actions in the best interests of the Company and its shareholders.
About Titan Logix Corp.:
For over 25 years, Titan Logix Corp. has designed and manufactured mobile liquid measurement solutions to help businesses reduce risk and maximize efficiencies in bulk liquids transportation. Titan's TD Series of tank level monitors are a market leader in mobile fluid measurement, and are known for their high level of accuracy, rugged design, and solid-state reliability. Our solutions are designed for hazardous and non-hazardous applications, and we serve customers in a wide range of applications including petroleum, environmental solutions, chemical, and agriculture.
Founded in 1979, Titan Logix Corp. is a public company listed on the TSX Venture Exchange and its shares trade under the symbol TLA.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Information in this press release that is not current or historical factual information may constitute forward looking information within the meaning of securities laws. Implicit in this information are assumptions regarding our future operational results. These assumptions, although considered reasonable by the Company at the time of preparation, may prove to be incorrect. Readers are cautioned that actual performance of the Company is subject to a number of risks and uncertainties and could differ materially from what is currently expected as set out above. For more exhaustive information on these risks and uncertainties you should refer to our Management Discussion and Analysis in respect of the year ended August 31, 2022 which is available at www.sedar.com. In addition, the occurrence of pandemics, such as the outbreak of the novel coronavirus COVID-19 in any of the areas in which the Company, its customers or its suppliers operate could cause interruptions in the Company's operations. In addition, pandemics, natural disasters or other unanticipated events could negatively impact the demand for, and price of, oil and natural gas which in turn could have a material adverse effect on the Company's business, financial condition, results of operations and cash flows. Forward-looking information contained in this press release is based on our current estimates, expectations and projections, which we believe are reasonable as of the current date. You should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While we may elect to, we are under no obligation and do not undertake to update this information at any particular time, whether as a result of new information, future events or otherwise, except as required by applicable securities law.
