VANCOUVER, BC, March 30,
2022 /CNW/ - Minco Capital Corp. (the
"Company" or "Minco Capital") (TSXV: MMM) (OTCQX: MGHCF) (FSE: MI5)
today announced that it has received conditional acceptance from
the TSX Venture Exchange ("TSXV") for a Normal Course Issuer Bid
("NCIB") to purchase for cancellation, during the 12-month
period starting April 01, 2022, up to
2,300,000 or 5% of the current issued and outstanding Common
Shares. The program will end on March
31, 2023, unless the maximum amount of Common Shares are
purchased before then or Minco Capital provides earlier notice of
termination. Purchases will be made on the TSXV and alternative
exchanges at the market price at the time of acquisition. Payment
for the shares will be in accordance with TSXV policies. The
Company reserves the right to terminate the NCIB earlier if it
feels it is appropriate to do so.
Minco Capital believes that the market price of its Common
Shares may not reflect their underlying value and the Board of
Directors has authorized this initiative because, in the Board's
opinion, the proposed purchase of Common Shares pursuant to the
NCIB constitutes an appropriate use of Minco Capital's funds, and
the repurchase of its Common Shares are expected to benefit all
remaining shareholders by increasing their equity interest in the
Company.
The TSXV allows for purchase up to 2% of Common Shares in a
given 30-day period. No purchases will be made other than by means
of open market transactions or by such other means as may be
permitted under applicable securities laws during the term of the
NCIB. The shares purchased by the Company will be returned to
treasury for cancellation.
Raymond James Ltd. will conduct the NCIB on behalf of the
Company. To the knowledge of the Company, no director, senior
officer or other insider of the Company currently intends to sell
any common shares under the NCIB.
Shareholders can obtain a copy of the NCIB, without charge, by
contacting the Company.
ON BEHALF OF THE BOARD
"Ken
Cai"
President
About Minco Capital
Minco Capital Corp. (TSXV:MMM / OTCQX: MGHCF /
FSE:MI5) is a Canadian company focused on
identifying high-quality investment opportunities, primarily
in publicly traded and privately held corporations as well as
direct ownership stakes in resource projects. The Company owns 11
million shares of Minco Silver Corporation. For more information on
Minco Capital Corp., please visit the website
at www.mincocapitalcorp.com
Neither TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in policies
of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release.
2060 – 1055 W. Georgia St., Vancouver, BC, Canada V6E 3R5
Tel: (604) 688-8002 Fax:
(604)688-8030 Toll Free:
(888)288-8288
E-mail: pr@mincomining.ca
Website: www.mincocapitalcorp.com
SOURCE Minco Capital Corp.