2022-11-24 14:35:00

Axis Auto Announces Intention to Make Normal Course Issuer Bid

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Benzinga
By Business Wire

Axis Auto Finance Inc. (Axis or the Company) ((AXIS), a rapidly growing financial technology company changing the way Canadians purchase and finance used vehicles, announced today that the Toronto Stock Exchange (the TSX) has accepted a notice filed by Axis of its intention to make a Normal Course Issuer Bid (the Bid) for up to 6,105,497 of its issued and outstanding common shares (the Shares). The Bid will be conducted through Canaccord Genuity Corp., a member of the TSX, and made in accordance with the policies of the TSX.

Purchases of Shares under the Bid may commence on November 26, 2022 and will terminate on November 25, 2023, or on such earlier date as the Bid is complete. Purchases of Shares will be made through the facilities of the TSX or alternative Canadian trading systems in accordance with its rules.

The average daily trading volume of the Shares for the previous six calendar months (ADTV) ending October 31, 2022 was 6,432 Shares. On any trading day, purchases under the Bid will not exceed 1,608 Shares. The price that the Company will pay for any Shares purchased under the Bid will be the prevailing market price at the time of purchase. Any Shares purchased by the Company will be cancelled.

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