VANCOUVER, Aug. 21, 2018 /CNW/ - Destiny Media Technologies, Inc. (TSXV: DSY) (OTCQX: DSNY) (the 'Company"), the makers of Play MPE®, a cloud-based SaaS solution for promotional music marketing, today announced that the board of directors has authorized a program to repurchase up to 10 million shares of the Company's common stock at a maximum share purchase price of $0.20 per share through open market transactions, privately negotiated transactions or otherwise in accordance with all applicable laws. The timing, amount and other terms and conditions of any repurchases will be determined by the Company's management at its discretion based on a variety of factors, including the market price of the Company's common stock, corporate considerations, general market and economic conditions and legal requirements. The board approved stock repurchase program runs through August 31, 2019. In addition to applicable securities laws, the company will not make any purchases during a time at which its insiders are subject to a blackout from trading in the Company's common stock.
About Destiny Media Technologies, Inc.
Destiny Media Technologies provides software as service (SaaS) solutions to businesses in the music industry solving critical problems in distribution and promotion. The core service, Play MPE® (www.plaympe.com), provides promotional music marketing to engaged networks of decision makers in radio, film, TV, and beyond.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). Such forward-looking statements involve risks and uncertainties. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking statements. In some, but not all, cases, you can identify forward-looking statements by terminology such as "may", "will", "should", "expect", "plan", "intend", "anticipate", "believe", "estimate", "predict", "potential" or "continue", the negative of such terms or other comparable terminology. Actual events or results may differ materially. In evaluating these statements, you should consider various factors, including the risks outlined in the "Risk Factors" section and elsewhere in the Company's most recent Annual Report on Form 10-K, which may be updated by periodic or other reports filed by the Company with the SEC subsequent to such Form 10-K. These factors may cause the Company's actual results to differ materially from any forward-looking statements. Forward-looking statements contained in this press release only speak as of the date on which they were made and, except as may be required by applicable securities laws, the Company disclaims any obligation to publicly update these statements, or disclose any difference between its actual results and those reflected in these statements.
SOURCE Destiny Media Technologies, Inc.
For further information: Fred Vandenberg, CEO, Destiny Media Technologies, Inc., 604-609-7736 x236