Jamieson Wellness Inc. Announces Normal Course Issuer Bid

Jamieson Wellness Inc. ("Jamieson Wellness" or the "Company") (TSX: JWEL) announced today that it has received approval from the Toronto Stock Exchange (the "TSX") to commence a normal course issuer bid (the "NCIB"). The Company may purchase for cancellation up to 4,165,201 common shares of the Company pursuant to the NCIB, which represents approximately 10% of the Company's public float (as that term is defined in the policies of the TSX) as of October 30, 2023. The NCIB will commence on November 7, 2023 and will expire on the earlier of November 6, 2024, or the date on which the Company has either acquired the maximum number of common shares allowable or otherwise decided not to make any further repurchases. As of October 30, 2023, there were 42,087,169 common shares issued and outstanding.

The average daily trading volume for the six months ended October 31, 2023 ("ADTV"), calculated in accordance with the rules of the TSX for purposes of the NCIB, was 102,918 common shares. Under the rules of the TSX, Jamieson is entitled to repurchase, during each trading day, up to 25% of the ADTV or up to 25,729 common shares (excluding any purchases made pursuant to the block purchase exception in accordance with TSX rules) through the TSX.

The purchases will be made by means of open market transactions through the facilities of the TSX and through alternative trading systems in Canada. The price to be paid by the Company for any such repurchased common shares will be the market price at the time of acquisition or such other price as a securities regulatory authority may permit. All common shares repurchased under the NCIB will be cancelled.

The Company has entered into an automatic share purchase plan ("ASPP") with a designated broker, to allow for purchases of its common shares during certain pre-determined black-out periods, subject to certain parameters. The ASPP constitutes an "automatic securities purchase plan" under applicable Canadian securities laws, has been approved by the TSX and will be implemented effective November 7, 2023.

"We are confident in the long-term success of our company and our ability to create value for our shareholders," said Mike Pilato, President and CEO of Jamieson Wellness Inc. "We believe that our current share price does not reflect our strong financial performance and growth prospects, and that repurchasing our own shares is an attractive investment opportunity and a prudent way to return capital to our shareholders."

About Jamieson Wellness

Jamieson Wellness is dedicated to improving the world's health and wellness with its portfolio of innovative natural health brands. Established in 1922, Jamieson is the Company's heritage brand and Canada's #1 consumer health brand. Jamieson Wellness also offers a variety of VMS products under its youtheory, Progressive, Smart Solutions, Iron Vegan and Precision brands. The Company is a participant of the United Nations Global Compact and adheres to its principles-based approach to responsible business. For more information please visit www.jamiesonwellness.com .

Forward-Looking Information

This press release may contain forward-looking information within the meaning of applicable securities legislation. Such information includes, but is not limited to, statements related to the Company's future plans, goals, strategies, intentions, beliefs, objectives, economic performance or expectations, including with respect to the NCIB and its effects on the Company's business, financial condition, results of operations and shareholders.

Words such as "expect", "anticipate", "intend", "may", "will", "believe", "estimate" and variations of such words and similar expressions are intended to identify such forward-looking information. This information reflects the Company's current expectations regarding future events. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the Company's control that could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking information. Such risks and uncertainties include, but are not limited to, the factors discussed under "Risk Factors" in the Company's Annual Information Form dated March 30, 2023 and under the "Risk Factors" section in the management discussion and analysis of financial condition and results of operations of the Company filed today, November 2, 2023 (the "MD&A"). This information is based on the Company's reasonable assumptions and beliefs in light of the information currently available to it and the statements are made as of the date of this press release. The Company does not undertake any obligation to update such forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law or regulatory authority.

The Company cautions that the list of risk factors and uncertainties is not exhaustive and other factors could also adversely affect the Company's results. Readers are urged to consider the risks, uncertainties and assumptions associated with these statements carefully in evaluating the forward-looking information and are cautioned not to place undue reliance on such information. See "Forward-looking Information" and "Risk Factors" within the MD&A for a discussion of the uncertainties, risks and assumptions associated with these statements.

Investor and Media Contact Information:
Jamieson Wellness
Ruth Winker

News Provided by Business Wire via QuoteMedia

The Conversation (0)
Principal Technologies (TSXV:PTEC)

Principal Technologies Announces New Stock Option Plan

Principal Technologies Inc. (the "Company") (TSXV: PTEC), is pleased to announce that the Board of Directors of the Company (the "Board") has approved the adoption of a new 20% fixed stock option plan (the "New Option Plan").

On July 11, 2023, the Board adopted a 10% fixed stock option plan (the "Considered Plan") (see press release date July 11, 2023). The Considered Plan was subject to approval by the TSX Venture Exchange (the "Exchange") and would be in addition to the Company's 10% rolling stock option plan (the "Option Plan") that was last approved by shareholders at their annual general and special meeting held on November 30, 2022. Upon review and consultation with the Exchange, the Board has subsequently adopted the New Option Plan.

Keep reading...Show less
"Wrap-around Care" Model Helps Address Gaps in Mental Healthcare

"Wrap-around Care" Model Helps Address Gaps in Mental Healthcare

With over 1.3 million Canadians currently struggling with trauma and post-traumatic stress disorder (PTSD), Pure Life Healthcare Management is working to offer a wrap-around care model for better healing, according to CEO Doug Page.

The model allows individuals to walk in and have a single health provider deliver a wide spectrum of support for healing.

“What we’re trying to do is build out both from a telehealth perspective with physical locations where you’re able to walk in and get 20 different services … Some clients might only need two or three services. Some clients are going to be accessing that dozen-plus different services, depending on what their background is,” Page said.

Keep reading...Show less
pills spilling out of a pill bottle on a yellow background

Pharma Stocks: 5 Biggest Companies

The biggest pharmaceutical companies in the world are responsible for developing and manufacturing the vast majority of prescription drugs, giving them a key role in the life science industry.

The pharma sector is responsible for the discovery, development and manufacturing of drugs and medicine. Companies are developing innovative treatments in areas like immuno-oncology and neurology, as well as novel options for rare diseases. 2023 in particular has seen a lot of buzz around diabetes and weight loss treatments.

With the pharmaceutical sector projected to reach a staggering US$1.6 trillion in total revenue by 2028, the need for the industry is great. Opportunities for investment are also sizeable, but what's the best place to start? Those who want exposure to the pharma market may want to begin by looking at the major players in the space.

Keep reading...Show less
Cardiol Therapeutics Announces Study Results Presented at the 2023 Annual Meeting of the European Society of Cardiology Working Group on Myocardial and Pericardial Diseases

Cardiol Therapeutics Announces Study Results Presented at the 2023 Annual Meeting of the European Society of Cardiology Working Group on Myocardial and Pericardial Diseases

Cardiol Therapeutics Inc. (NASDAQ: CRDL) (TSX: CRDL) ("Cardiol" or the "Company"), a clinical-stage life sciences company focused on the research and clinical development of anti-inflammatory and anti-fibrotic therapies for the treatment of heart disease, announced today that study results demonstrated an experimental model of pericarditis induces mesothelial to mesenchymal transition ("MMT") and that this process is inhibited by cannabidiol treatment, the active pharmaceutical ingredient in CardiolRx™. An abstract summarizing these results was submitted by the Company's international research collaborators from the University of Virginia and Houston Methodist DeBakey Heart & Vascular Center to the 2023 Annual Meeting of the European Society of Cardiology Working Group on Myocardial and Pericardial Diseases ("MPD2023") held on November 15 and 16, 2023 in Belgrade, Serbia.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Cardiol Therapeutics

Cardiol Therapeutics

Keep reading...Show less

Jamieson Wellness Inc. Reports Strong Third Quarter 2023 Results

Consolidated revenue growth of 9.1%;
Jamieson Brands revenue grew 15.0% led by increased demand in the U.S. and China

Jamieson Wellness Inc. ("Jamieson Wellness" or the "Company") (TSX: JWEL) today reported its third quarter results for the period ended September 30, 2023. All amounts are expressed in Canadian dollars.

News Provided by Business Wire via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News