BIOREM Announces Approval of Normal Course Issuer Bid
GUELPH, ON, June 11, 2025 /CNW/ - BIOREM Inc. (TSXV: BRM) ("BIOREM" or "the Company") is pleased to announce that the TSX Venture Exchange (the "TSXV") has approved its application to implement a normal course issuer bid("NCIB") for a portion of its common shares ("Common Shares").
Biorem believes that: (1) the repurchase of Common Shares would be an effective use of its cash resources and in the best interests of Biorem and its shareholders; (2) that the current market price of its Common shares does not fully reflect their underlying value; and (3) that current market conditions provide opportunities for the Company to acquire Common Shares at attractive prices.
Pursuant to the NCIB notice filed with and accepted by the TSXV, the Company has been authorized to acquire up to a maximum of 806,872 Common Shares, or approximately 5% of the currently issued and outstanding Common Shares as of June 10, 2025, for cancelation. As of June 10, 2025, Biorem had 16,137,437 Common Shares issued and outstanding and a public float of 15,235,000 Common Shares.
Purchases under the NCIB will commence on or about June 16, 2025 and will terminate on the earlier of: (i) one year from such commencement; or (ii) the date on which the Company has purchased the maximum number of Shares to be acquired under the NCIB. The NCIB will be conducted on behalf of the Company by Cormark Securities Inc. (the "Broker"). The purchase and payment for the Common Shares will be made in accordance with TSXV requirements at the market price of the Common Shares at the time of acquisition, plus brokerage fees, if any, charged by the Broker. Purchases under the NCIB will be made in accordance with applicable regulatory requirements through the facilities of the TSXV. All Common Shares purchased under the NCIB will be canceled upon their purchase. The Company intends to fund the purchases out of its available resources.
To the Company's knowledge, none of the officers, or other insiders of the Company, or any associate of such person, or any associate of affiliate of the Company, has any present intention to sell any Shares to the Company pursuant to the NCIB. The Company has not purchased for cancellation any of its outstanding Shares within the 12 months preceding the filing of the NCIB notice with the TSXV.
Advisory Regarding Forward-looking Information
This news release contains "forward-looking information" within the meaning of applicable Canadian securities laws and "forward-looking statements" (and together with "forward-looking information", "FLI") . All statements other than statements of historical fact are FLI. The use of any of the words "anticipate", "believe", "could", "estimate", "expect", "future", "intend", "may", "plan", "potential", "predict", "should", "will" and similar expressions, (including negatives thereof) are intended to identify FLI. In particular, this news release includes (without limitation) forward-looking information and statements pertaining to the anticipated benefits of the NCIB. Readers are cautioned that the foregoing list of factors is not exhaustive. Although the FLI contained in this news release are based upon assumptions which management believes to be reasonable, the Company cannot assure investors that actual results will be consistent with these forward-looking statements.
With respect to FLI contained in this news release, Biorem has made assumptions regarding, among other things, the ability of the Company to achieve the benefits of the NCIB. The FLI included in this news release are made as of the date of this news release and are based on the information available to the Company at such time and, other than as required by law, Biorem disclaims any intention or obligation to update or revise any FLI, whether as a result of new information, future events, or otherwise. This news release and its contents should not be construed, under any circumstances, as investment, tax, or legal advice.
About BIOREM Inc.
BIOREM is a leading clean technology company that designs, manufactures and distributes a comprehensive line of high-efficiency air emissions control systems used to eliminate odors, volatile organic compounds (VOCs), and hazardous air pollutants (HAPs). With sales and manufacturing offices across the continent, a dedicated research facility, a worldwide sales representative network and more than 2.000 installed systems worldwide, Biorem offers state-of-the-art technology-based products and peace of mind for municipalities, industrial companies and their surrounding communities. Additional information on Biorem is available on our website at www.biorem.biz.
SOURCE Biorem Inc.
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