AirIQ Announces TSX Venture Exchange Acceptance of Normal Course Issuer Bid

AirIQ Inc. (TSXV:IQ), a leader in wireless asset management services, has announced the TSX Venture Exchange's acceptance of its normal course issuer bid (NCIB). Under the NCIB, AirIQ intends to purchase up to 1,468,004 common shares, representing 5% of its currently issued and outstanding shares. The bid will span from June 27, 2024, to June 26, 2025.

AirIQ's Board of Directors believes the market price undervalues the company's assets and future prospects. They view the share repurchase as a way to create shareholder value. Purchases will be made through the TSXV facilities, with Hampton Securities Limited acting as AirIQ's agent. Shares will be bought at the prevailing market price and subsequently canceled.

No director, senior officer, or insider currently plans to sell shares under the Bid. However, they may sell through the TSXV if personal circumstances change. The previous NCIB allowed for the purchase and cancellation of 157,500 shares at an average price of $0.37 per share.

AirIQ has stated that while it intends to proceed with the NCIB, there is no assurance that any purchases will be completed. Details of the NCIB are available upon request from AirIQ.