PREMIUM BRANDS HOLDINGS CORPORATION ANNOUNCES ENTRY INTO AUTOMATIC SHARE PURCHASE PLAN
VANCOUVER, BC, Nov. 23, 2022 /CNW/ - Premium Brands Holdings Corporation (TSX: PBH) (the "Company") announced today that it has established an automatic share purchase plan ("ASPP") in connection with its previously announced normal course issuer bid ("NCIB") to purchase for cancellation up to 2,239,887 of its common shares. The ASPP is intended to allow for the purchase of common shares under the NCIB at times when the Company would ordinarily not be permitted to purchase shares due to regulatory restrictions and customary self-imposed blackout periods.
Pursuant to the ASPP, purchases will be made by the Company's designated broker based on pre-established purchasing parameters, without further instruction by the Company, in compliance with the rules of the Toronto Stock Exchange ("TSX"), applicable securities laws and the terms of the ASPP. The ASPP has been pre-cleared by the TSX and was implemented effective November 3, 2022.
The NCIB commenced on July 26, 2022 and will terminate on July 25, 2023, or on such earlier date as the Company completes the purchase of the maximum number of common shares permitted under the NCIB.
All purchases made under the ASPP will be made on the open market through the facilities of the TSX and/or alternative Canadian trading platforms, in accordance with their policies, and will be included in computing the number of shares purchased under the NCIB. The price to be paid by the Company for its common shares will be the market price at the time of purchase. Any common shares purchased by the Company under the NCIB will be cancelled.
Premium Brands owns a broad range of leading specialty food manufacturing and differentiated food distribution businesses with operations across Canada, the United States and Italy.
This press release contains forward looking statements with respect to the Company, including, without limitation, the statements related to the Company's NCIB and ASPP and the number of common shares that may be purchased thereunder. While management believes that the expectations reflected in such forward looking statements are reasonable and represent the Company's internal expectations and beliefs as of the date of this press release, there can be no assurances that such expectations will prove to be correct as such forward looking statements involve unknown risks and uncertainties beyond the Company's control which may cause the actual results, performance and achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward looking statements. Such risks and uncertainties include, without limitation, market reaction to the NCIB and those assumptions outlined in the Company's 2022 Management's Discussion and Analysis under Risks and Uncertainties, which is filed electronically through SEDAR and available online at www.sedar.com.
Unless otherwise indicated, the forward looking statements in this press release are made as of the date hereof and, except as required by applicable law, will not be publicly updated or revised. This cautionary statement expressly qualifies the forward looking information in this press release.
SOURCE Premium Brands Holdings Corporation
George Paleologou, President and CEO, or Will Kalutycz, CFO, at (604) 656-3100.
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