West Vault Announces Normal Course Issuer Bid
VANCOUVER, BRITISH COLUMBIA, April 5, 2022 – West Vault Mining Inc. (TSXV:WVM, OTCQX:WVMDF) (“West Vault” or the “Company”) announces that the Company will commence a Normal Course Issuer Bid (the “NCIB”), to be transacted through the facilities of the TSX Venture Exchange (“TSXV”), subject to TSXV approval. The Company may purchase up to 2,904,512 common shares, which represents approximately 5% of the 58,090,242 outstanding common shares of the Company (the “Common Shares”).
The NCIB will commence on April 11, 2022, and terminate on the earlier of the Company purchasing a total of 2,904,512 Common Shares, the Company providing a notice of termination or on April 10, 2023. All purchases will be made through the facilities of the TSXV at market prices and otherwise in accordance with the rules and policies of the TSXV. All Common Shares acquired by the Company under the NCIB will be subsequently canceled. The price which the Company will pay for any such Common Shares will be the prevailing market price at the time of purchase. The funding for any purchase pursuant to the NCIB will be financed out of the unallocated working capital of the Company. The Company has appointed PI Financial Corp. to conduct the NCIB on its behalf. The Company intends to utilize the NCIB at its discretion to make opportunistic purchases to create shareholder value and manage the number of outstanding common shares.
The board of directors of the Company believes that, from time to time, the market price of the Common Shares may not adequately reflect the Company's underlying value and future prospects and that, at such times, the purchase of the Common Shares represents an appropriate use of the Company's financial resources and would be in the best interests of the Company's shareholders.
On behalf of the Board of West Vault Mining Inc.
Frank R. Hallam
Chief Financial Officer
For further information please see the Company’s website at www.westvaultmining.com or contact us by email at [email protected].
(604) 685 8311 / [email protected]
Disclaimer for Forward-Looking Information
This press release may contain forward-looking information or forward-looking statements (collectively "forward-looking information") within the meaning of applicable securities laws. Forward-looking information is typically identified by words such as: “believe”, “expect”, “anticipate”, “intend”, “estimate”, “postulate” and similar expressions, or are those, which, by their nature, refer to future events. All statements that are not statements of historical fact are forward-looking statements. Forward-looking information in this news release includes, without limitation, statements regarding the Company's intention to commence its NCIB, the potential purchases of Common Shares for cancellation under the NCIB program, and the anticipated timing and the extent of such purchases under the NCIB program. Although West Vault believes that such information as set out in this press release is reasonable, it can give no assurance that such expectations and estimates will prove to be correct. The Company cautions investors that any forward-looking information provided by the Company is not a guarantee of future results or performance, and that actual results may differ materially from those in forward-looking information as a result of various factors, including the following: risks and possible adverse impacts due to the global outbreak of COVID-19 , other global epidemics, pandemics or public health crises; the state of the financial markets for the Company's equity securities; the state of the market for gold or other minerals that may be produced generally; significant increases in any of the machinery, equipment or supplies required to develop and operate a mine; a significant change in the availability or cost of the labor force required to operate a mine; a significant increases in the cost of transportation for the Company’s products; variations in the nature, quality and quantity of any mineral deposits that may be located; and the Company's ability to obtain any necessary permits, consents or authorizations required for its activities, to raise the necessary capital or to be fully able to implement its business strategies and other risks associated with the exploration and development of mineral properties. The reader is referred to the Company's public filings for a more complete discussion of such risk factors and their potential effects which may be accessed through the Company's profile on SEDAR at www.sedar.com.Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accept responsibility for the adequacy or accuracy of this release.