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DMG Blockchain (OTC:DMGGF) announces share buyback program

Tony Zerucha

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DMG Blockchain (OTC:DMGGF) announced today its board of directors has approved a share buyback program that will see up to 4,662,474 common shares purchased through the TSX Venture Exchange over the next 12 months.

“The board is of the opinion that the company’s shares are undervalued in the marketplace,” DMG said in a release. “This provides an opportunity for DMG to purchase common shares at attractive prices; the purchases are an appropriate use of funds, which will enhance value of the common shares held by remaining shareholders.”

The program could begin in as soon as three trading days. If all of the shares are purchased it would represent five per cent of the company’s share capital. All purchased common shares will be cancelled. Raymond James will run the program.

 

 

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Tony Zerucha

Tony Zerucha is an alternative finance journalist with more than seven years experience in the space. The author of more than 1,000 articles, Tony was named LendIt's 2018 Journalist of the Year.

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