VANCOUVER, British Columbia, Sept. 05, 2019 (GLOBE NEWSWIRE) -- Imperial Ginseng Products Ltd. (TSXV: IGP) (the “Company”) is pleased to announce that the TSX Venture Exchange (“TSXV”) has approved the renewal of the Company’s normal course issuer bid (“NCIB”). Under the renewed NCIB, the Company will be entitled to repurchase for cancellation up to 366,000 common shares of the Company, representing approximately 5% of the 7,326,547 common shares as of August 31, 2019. Purchases will be made at the prevailing market prices over a twelve-month period starting on October 1, 2019 and ending on September 30, 2020, and will be effected through the facilities of the TSXV and on other alternative trading systems in Canada.
As at August 31, 2019, the Company has repurchased 70,400 common shares under the current NCIB that expires on September 30, 2019.
About Imperial Ginseng Products Ltd.
The Company is an agricultural company that seeks to provide investors returns through the cultivation and processing of North American ginseng in Ontario and the marketing of its roots primarily to Asia.
ON BEHALF OF THE BOARD OF DIRECTORS
“Stephen McCoach”
Chief Executive Officer and Director
For additional information, please contact Stephen McCoach at:
Imperial Ginseng Products Ltd.
Suite 3030, 650 West Georgia Street, Vancouver, BC V6B 4N7
Tel: (604) 689-8863
Email: info@imperialginseng.com
Forward Looking Statements
Certain statements in this press release may constitute “forward-looking” statements, including statements with respect to future purchases of common shares by the Company. These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward looking statements. These forward-looking statements are made as of the date of this press release, and the Company assumes no obligations to update or revise them to reflect new events or circumstances.
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.