VANCOUVER, BC, Dec. 6, 2022
/CNW/ - BQE Water Inc. (TSXV: BQE) (the "Company"), a
leader in the treatment and management of mine impacted waters, has
obtained the approval of the TSX Venture Exchange (the "TSXV") to
commence a normal course issuer bid (the "NCIB") to repurchase for
cancellation up to 62,556 of its outstanding common shares (the
"Shares"), representing 5% of Shares issued and outstanding as of
December 1, 2022, over a 12-month
period starting December 12, 2022 to
December 11, 2023 unless the maximum
amount of Shares is purchased before then or the Company provides
earlier notice of termination.
The Board believes, from time to time, the market price of the
Company's Shares does not adequately reflect the Company's
underlying value and future prospects and that the repurchase of
Company's Shares represents an attractive investment and an
advantageous use of the Company's financial resources. The Company
expects the repurchase of Shares will benefit shareholders by
increasing their equity interest in the Company.
The Company has engaged Raymond James Ltd. to act as its broker
for the NCIB (the "Broker"). The Shares will be purchased through
the facilities of the TSXV at the prevailing market price at the
time of acquisition. Payment for the Shares will be made from the
Company's existing working capital. The Broker will determine the
timing of these purchases in its sole discretion based on
purchasing parameters set by the Company and subject to the
policies of the TSXV and applicable securities laws. All Shares
purchased by the Company under the NCIB will be cancelled.
There can be no assurance as to the precise number of Shares or
the aggregate dollar amount that will be repurchased under the
NCIB. The Company has not previously purchased any of its common
shares through a NCIB.
To the Company's knowledge, none of the directors, senior
officers or insiders of the Company, or any associate of such
person, has any present intention to sell any securities to the
Company during the course of the NCIB.
About BQE Water
BQE Water is a service provider specializing in water treatment
and management for metals mining, smelting and refining.
We are helping to transform the way the industry thinks about
water in the context of natural resource projects by offering
services and expertise which enables more sustainable water
management practices and improved overall project performance at
reduced risks. BQE Water invests in innovation and has developed
unique intellectual property through the commercialization of
several new technologies at mine sites around the world for
organizations including Glencore, Jiangxi Copper, Freeport-McMoRan
and the US EPA. BQE Water is headquartered in Vancouver, Canada and trades on the TSX
Venture Exchange under the symbol BQE. Visit www.bqewater.com for
more information.
The Toronto Venture Exchange has not reviewed and does not
accept responsibility for the adequacy or the accuracy of this
release.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
Certain information contained herein may not be based on
historical fact and therefore constitutes "forward-looking
information" under applicable Canadian securities legislation. This
includes without limitation statements containing the words "plan",
"expect", "project", "estimate", "intend", "believe", "anticipate",
"may", "will" and other similar words or expressions.
Forward-looking statements are based on the opinions and estimates
of management at the date the statements are made, and are subject
to a variety of risks, uncertainties and other factors that may
cause actual events or results to differ materially from those
expressed or implied by such forward-looking statements. Factors
that could cause or contribute to such differences include, but are
not limited to, the Company's dependence on key personnel and
contracts, uncertainty with respect to the profitability of the
Company's technologies, competition, technology risk, the Company's
ability to protect its intellectual property and proprietary
information, fluctuations in commodity prices, currency risk,
environmental regulation and the Company's ability to manage growth
and other factors described in the Company's filings with the
Canadian securities regulators at www.sedar.com (including
without limitation the factors described in the section entitled
"Risks and Uncertainties" in the Company's MD&A for the year
ended December 31, 2021). Given these
risks and uncertainties, the reader is cautioned not to place undue
reliance on forward-looking statements. All forward-looking
information contained herein is based on management's current
expectations and the Company undertakes no obligation to revise or
update such forward-looking information to reflect subsequent
events or circumstances, except as required by law.
For further information please contact:
BQE Water Inc.
Suite 250 – 900 Howe
Street
Vancouver BC Canada V6Z 2M4
David Kratochvil, President
&
CEO
dkratochvil@bqewater.com
Heman Wong,
CFO
hwong@bqewater.com
604 685 1243 or 1 800 537 3073
SOURCE BQE Water Inc.