EDMONTON, Aug. 29, 2019 /CNW/ - Imperial Equities Inc.
(TSX-V:IEI) today announced that it intends to make a Normal Course
Issuer Bid through the facilities of and in accordance with the
by-laws and rules of the Toronto Venture Exchange to be transacted
through the facilities of the TSX and other Canadian
marketplaces.
Imperial Equities Inc. currently has 9,583,642 outstanding
common shares. The bid will allow Imperial to purchase up to
479,182 common shares, representing 5% of those outstanding. The
bid will commence September 3, 2019
and terminate September 2, 2020, or
earlier if the bid is complete. Purchases pursuant to the bid will
be made through Canaccord Genuity Corp. Imperial Equities' current
Normal Course Issuer Bid expires on August
30, 2019.
Imperial's management team believes that the current share price
does not reflect the real value of the company. "Imperial Equities
shares have been trading thinly and at values less than breakup,
despite the fact that real estate prices are at an all time high.
It is cheaper to buy the stock that holds the property than it is
to buy the property," said Sine Chadi, President and CEO of
Imperial Equities.
Imperial Equities Inc. will purchase the common shares for
cancellation which ultimately will result in increasing the
proportionate interest of all remaining shareholders.
About Imperial Equities Inc.:
Based in Edmonton, Alberta,
Imperial Equities Inc. is a publicly traded company anchored by
commercial and industrial real estate properties in its targeted
Edmonton and Alberta markets. Additional information is
available at: www.imperialequities.com. Imperial's common shares
are listed on the TSX Venture Exchange under symbol IEI.
Neither TSX Venture nor its Regulation Services Provider
accepts responsibility for the adequacy or accuracy of this
release.
SOURCE Imperial Equities Inc.