Chorus Aviation Announces Receipt of Exemptive Relief in Connection with Substantial Issuer Bid Français
HALIFAX, NS, May 15, 2025 /CNW/ - Chorus Aviation Inc. (TSX: CHR) (" Chorus" or the " Company") announced today that, in connection with the Company's ongoing substantial issuer bid (the " Offer"), pursuant to which the Company has offered to purchase up to $25 million in value of its Class A Variable Voting Shares and Class B Voting Shares (collectively, the " Shares") pursuant to a "modified Dutch auction", the Nova Scotia Securities Commission, as principal regulator, has granted an exemptive relief order permitting Chorus to extend the Offer, if it determines to do so, in circumstances where the Offer is undersubscribed, without first taking up its Shares previously deposited to the Offer. The terms of the Offer are described in the Company's press releases dated April 7, 2025 and April 14, 2025.
At this time, the board of directors of Chorus has not made any determination with respect to an extension of the Offer and the expiration date of the Offer remains 5:00 p.m. (Toronto time) on May 20, 2025 (the " Expiration Date"). In the event the Offer is extended, the Company will provide a further news release disclosing the details of such extension.
Details of the Offer, including instructions for tendering Shares to the Offer, are described in the offer to purchase and issuer bid circular, letter of transmittal and notice of guaranteed delivery (collectively, the " Offer Documents").
This news release is for informational purposes only and does not constitute an offer to buy or the solicitation of an offer to sell Shares. The solicitation and the offer to buy Shares will only be made pursuant to the Offer Documents.
Shareholders are encouraged to review the full terms and conditions of the Offer, including instructions for tendering Shares to the Offer, which are described in the Offer Documents, copies of which were filed with the applicable Canadian Securities Administrators on SEDAR+ at www.sedarplus.ca and posted on Chorus' website at www.chorusaviation.com.
Any questions or requests for information regarding the Offer should be directed to TSX Trust Company, as the depositary, at 301-100 Adelaide Street West, Toronto, Ontario M5H4H1, Tel: 1-416-682-3860, Toll Free: 1-800-387-0825, email: [email protected], or Scotia Capital Inc., as the dealer manager, at 40 Temperance Street, 6 th Floor, Toronto, Ontario M5H1Y4, email: [email protected].
About Chorus Aviation Inc.
Chorus is a holding company which owns the following principal operating subsidiaries: Jazz Aviation, the largest regional operator in Canada and provider of regional air services under the Air Canada Express brand; Voyageur Aviation, a leading provider of specialty charter, aircraft modifications, parts provisioning and in-service support services; and Cygnet Aviation Academy, an industry leading accredited training academy preparing pilots for direct entry into airlines. Together, Chorus' subsidiaries provide services that encompass every stage of an aircraft's lifecycle, including: contract flying, aircraft refurbishment, engineering, modification, repurposing and transition; aircraft and component maintenance, disassembly, and parts provisioning; aircraft acquisition and leasing; and pilot training.
Chorus Class A Variable Voting Shares and Class B Voting Shares trade on the Toronto Stock Exchange under the trading symbol 'CHR'. Chorus' 6.00% Convertible Senior Unsecured Debentures due June 30, 2026 and 5.75% Senior Unsecured Debentures due June 30, 2027 trade on the Toronto Stock Exchange under the trading symbols 'CHR.DB.B' and 'CHR.DB.C', respectively. For further information on Chorus, please visit w ww.chorusaviation.com.
Forward-Looking Information
This news release contains forward-looking information and statements within the meaning of applicable securities laws (collectively, " forward-looking information"). Examples of forward-looking information in this news release include statements and expectations regarding the Offer. Forward-looking information involves significant risks and uncertainties that could cause actual results to differ materially from those anticipated, including, but not limited to, the timing, completion and announcement of the results of the Offer, the Company's intentions and expectations with respect to the Offer, the terms and conditions of the Offer, the number and aggregate dollar amount of Shares to be purchased for cancellation under the Offer and the anticipated effects and benefits of the Offer. Actual results could differ materially from those described in forward-looking information due to known or unknown risks, including, but not limited to, the failure of any condition to the Offer; Chorus' inability to finance the Offer in the manner it intends; the extent to which Shareholders elect to tender their Shares under the Offer; Chorus' having sufficient financial resources and working capital following completion of the Offer (including to fund its currently anticipated financial obligations and pursue desirable business opportunities); the Offer being completed later than the second quarter of 2025 and the risk factors described in Chorus' public disclosure record available under Chorus' profile on SEDAR+ at www.sedarplus.ca and many other factors beyond the control of Chorus.
The forward-looking information contained in this news release represents Chorus' expectations as of the date of this news release (or as of the date they are otherwise stated to be made) and is subject to change after such date. Chorus disclaims any intention or obligation to update or revise any forward-looking information as a result of new information, subsequent events or otherwise, except as required by applicable securities laws. Readers are cautioned that the foregoing factors and risks are not exhaustive.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Cision Canada
12 hours ago
- Cision Canada
Northern Shield Grants Stock Options
OTTAWA, ON, June 6, 2025 /CNW/ - Northern Shield Resources Inc. (" Northern Shield" or the " Company") (TSXV: NRN) announces that it has granted options to acquire a total of 2,220,000 common shares in the capital of the Company (" Common Shares") to its directors and officers and a further 210,000 to employees and consultants pursuant to its shareholder approved stock option plan (the " Stock Option Plan"). Each option entitles the holder to acquire one Common Share at an exercise price of $0.12 per Common Share until June 6, 2030. Following such grant, Northern Shield now has outstanding under its Stock Option Plan, options to acquire Common Shares equal to just under 8% of Northern Shield's currently outstanding Common Shares. About Northern Shield Resources Northern Shield Resources Inc. is a Canadian-based company known as a leader in generating high-quality exploration targets that views greenfield exploration as an opportunity to find a mineable deposit, near surface, and at relatively low cost. We implement a model driven exploration approach to reduce the risk associated with early-stage projects for ourselves, our shareholders, and the environment. This approach led us to option the Root & Cellar Property from a Newfoundland prospector, who discovered the mineralization, and then its advancement to a large gold-silver-tellurium system. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
The Market Online
13 hours ago
- The Market Online
Weekend sampler: 3 micro-cap stocks to watch
With the TSX up by 5.7 per cent over the past month, just shy of its all-time-high, driven by a rebound in the price of oil, and the S&P 500 following suit, up by 6.8 per cent, emboldened by strong U.S. jobs data, investors are growing increasingly immune to Trump's tariff bluster. They're realizing that he's but one among many short-term headwinds, along with wars, recessions and a diversity of cultural conflicts, which stocks have proven more than capable of overcoming on their way to delivering attractive long-term returns. While financial media has a vested interest in making you worry about next quarter's earnings or the effects of a single central bank interest rate decision, fundamentals and value will always prevail in the end. This means it's always the right time to consider stocks with the potential to reward patient investors, grounded in the understanding that short-term volatility is the price of long-term gains. To this end, as you kick your feet up and kick off the well-deserved weekend, here are three fundamentally attractive micro-cap stocks for your perusing pleasure, each of them worth a deep dive towards a potential investment thanks to positive earnings per share year-over-year and evidence for keeping the profits flowing into the future. BQE Water Our first micro-cap stock pick, BQE Water (TSXV:BQE), market cap C$65.93 million, last trading at C$51 per share, specializes in water treatment and management for the mining, smelting and refining markets. Although the stock has added 363 per cent since 2020, supported by more than 100 per cent revenue and net income growth – including a strong Q1 2025 – it's down by 20 per cent year-over-year, likely discounting numerous projects near completion expected to drive growth through year-end. Olympia Financial Group Our second micro-cap stock pick, Olympia Financial (TSX:OLY), market cap C$266.57 million, last trading at C$110.78, administers self-directed registered plan accounts, corporate trusts, transfer agency services, currency exchange, global payments, private health plans and information technology services in the Canadian market. The company more than doubled revenue from C$48.62 million in 2020 to C$102.92 million in 2024, while tripling net income over the period from C$7.99 million to C$23.92 million, respectively, following this up with a steady Q1 2025 marked by a growing client base. Under the care of a long-tenured management team with 34-per-cent insider ownership, Olympia is in the midst of a multi-pronged growth plan (slide 25) to expand its established position in private markets, granting investors a data-driven thesis for meaningful gains, despite the stock adding 184 per cent since 2020. ADF Group Our final micro-cap stock to watch, ADF Group (TSX:DRX), market cap C$188.29 million, last trading at C$6.70, is a top designer and engineer of steel structures for the North American non-residential infrastructure sector. The company's over 65-year track record includes infrastructure projects spanning airports, stadiums, factories and office towers, with a current capacity to manufacture 125,000 tons of structural steel per year. If we look at ADF's past five years, we see expanding market share justified by accelerating profits. This includes revenue growth from C$172.59 million in fiscal 2021 to C$339.63 million in fiscal 2025, proven efficient by net income growth from C$6.87 million to C$56.79 million over the period. Tariff fears have since hit the stock with steep losses to the tune of 60 per cent year-over-year – most recently hampered by an increase in U.S. steel tariffs which Canada may reciprocate – with new contracts slowing and lower expected revenue and margins through the fiscal year ending January 2026. That said, the stock remains up by more than 500 per cent since 2020 – including the year-over-year loss – thanks to management's stellar operational track record. While tariff uncertainty is peaking at the moment, the high likelihood of a reasonable resolution between Canada and the U.S., given that they're commercially tied-at-the-hip, puts the profitable ADF on a path to retracing recent losses, fueled by an over C$400 million backlog as of January 2025. Should you invest in BQE Water, Olympia Financial and ADF Group today? The stocks we've discussed in this article only deserve a place in your portfolio if they match up with your financial goals, risk tolerance and time horizon. Take care to paint a clear picture of your personal financial circumstances and conduct thorough due diligence on a prospective company before putting any money to work. Join the discussion: Find out what everybody's saying about these micro-cap stocks to watch on the BQE Water Inc., Olympia Financial Group Inc. and ADF Group Inc. Bullboards and check out the rest of Stockhouse's stock forums and message boards. The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.
Cision Canada
14 hours ago
- Cision Canada
Minsud Announces Option Grant
TORONTO, June 6, 2025 /CNW/ - Minsud Resources Corp. (TSXV: MSR) (" Minsud" or the " Company") is pleased to announce that it has granted options to purchase an aggregate of 600,000 common shares of the Company (the " Stock Options") to certain directors of the Company. The Stock Options are exercisable at a price of $0.60 per share for a period of five years from the date of issuance. As of the date hereof, a total of 16,494,852 common shares of the Company are reserved for issuance under the Company's stock option plan and, after this new grant, 13,876,000 options will be outstanding. About Minsud Resources Corp. Minsud is a mineral exploration company focused on exploring its flagship Chita Valley Cu-Mo-Au-Ag-Pb-Zn Project, in the Province of San Juan, Argentina. The Company's shares are listed on the TSX-V under the trading symbol "MSR", and on the OTCQX under the symbol "MDSQF". Neither the 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. SOURCE Minsud Resources Corp.
