TSX: VOYG
OTCQX: VYGVF
Borse Frankfurt: UCD2
NEW YORK, Oct. 29, 2021 /PRNewswire/ - Voyager Digital
Ltd. ("Voyager" or the "Company") (TSX: VOYG) (OTCQX: VYGVF)
(FRA: UCD2), a publicly traded cryptocurrency platform in
the United States, announced that
it has provided the Toronto Stock Exchange (the "TSX") its notice
to commence a normal course issuer bid ("NCIB"), subject to
approval by the TSX.
The notice provides that Voyager may, during the 12 month period
commencing November 2, 2021 and
ending November 1,
2022, purchase on the TSX up to 8,114,699 common shares in
total, being approximately 5% of the outstanding common shares. The
price which Voyager will pay for any such shares will be the market
price at the time of purchase in accordance with regulatory
requirements. The actual number of common shares which may be
purchased pursuant to the NCIB and the timing of any purchases will
be determined by management of Voyager. All common shares purchased
pursuant to the NCIB will be purchased for cancellation, and all
such purchases will be made on the open market through the
facilities of the TSX and on alternative trading systems in
Canada. The NCIB will be conducted
through Eight Capital, a member of the TSX.
As at the close of business on October
27, 2021, there were 162,293,997 common shares issued and
outstanding.
The daily average trading volume for Voyager's common shares
over the last period from September 7,
2021 and October 27, 2021 is
472,413 common shares (the "ADTV"). Accordingly, under TSX rules
and policies, Voyager is entitled on any trading day to purchase up
to 118,103 common shares. Pursuant to TSX policies, the maximum
number of Shares that may be purchased in one day pursuant to the
NCIB through their facilities will be 25% of TSX ADTV, subject to
certain prescribed exceptions.
Voyager had previously adopted an NCIB with the Canadian
Securities Exchange (the "CSE"), which entered into effect on
May 30, 2021. A total of 247,500
shares were acquired through the CSE, at a volume weighted average
purchase price of $18.93 per share.
These shares were cancelled on July 12,
2021. Voyager delisted its shares on the CSE on September 3, 2021 and began trading on the TSX on
September 7, 2021.
Voyager believes that its common shares have been trading in a
price range which does not adequately reflect the value of such
shares in relation to the business of Voyager and its future
business prospects. As a result, depending upon future price
movements and other factors, Voyager may determine that, at
appropriate times, repurchasing common shares through the NCIB
represents a good use of Voyager's financial resources.
Furthermore, the purchases are expected to benefit all persons who
continue to hold common shares by increasing their equity interest
in the Company.
About Voyager Digital Ltd.
Voyager Digital Ltd. (TSX:
VOYG; OTCQX: VYGVF; FRA: UCD2) is the fast-growing, publicly traded
cryptocurrency platform in the United
States founded in 2018 to bring choice, transparency, and
cost efficiency to the marketplace. Voyager offers a secure way to
invest and trade in over 60 different crypto assets, with zero
commissions, using its easy-to-use mobile application, and earn
rewards up to 12 percent annually on more than 30 cryptocurrencies.
Through its subsidiary Coinify ApS, Voyager provides crypto payment
solutions for both consumers and merchants around the globe. To
learn more about the company, please visit
https://www.investvoyager.com.
The TSX has not approved or disapproved of the information
contained herein.
Press Contacts
Voyager Digital, Ltd.
Michael
Legg
Chief Communications Officer
(212) 547-8807
mlegg@investvoyager.com
Voyager Public Relations Team
pr@investvoyager.com
This news release may contain statements that are not current or
historical factual statements that may constitute forward-looking
statements or future oriented financial information. These
statements are based on certain factors and assumptions, including
the price and liquidity of the common shares, expected financial
performance, business prospects, technological developments,
development activities, and like matters. While Voyager considers
these factors and assumptions to be reasonable, based on
information currently available, they may prove to be incorrect.
These statements involve risks and uncertainties, including but not
limited to the risk factors described in reporting documents filed
by the Company. Actual results could differ materially from those
projected as a result of these and other risks and should not be
relied upon as a prediction of future events. The Company
undertakes no obligation to update any forward-looking statement or
future oriented financial information to reflect events or
circumstances after the date on which such statement is made, or to
reflect the occurrence of unanticipated events, except as required
by law. Estimates used in this presentation are from Company
sources. Past or forecasted performance is not a guarantee of
future performance and readers should not rely on historical
results or forward-looking statements or future oriented financial
information as an assurance of future results.
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SOURCE Voyager Digital (Canada)
Ltd.
