Gamehost Announces Normal Course Issuer Bid for its Shares

CALGARY, AB / ACCESSWIRE / August 15, 2024 / Gamehost Inc. (TSX:GH) has received approval from the Toronto Stock Exchange (TSX) to initiate a Normal Course Issuer Bid. Gamehost plans to purchase and cancel up to 1,058,822 of its issued and outstanding common shares over a period ending August 19, 2025.

With 21,176,443 shares outstanding as of August 6, 2024, Gamehost's public float stands at 10,001,237 shares. The corporation aims to acquire a maximum of 5% of its shares, respecting daily purchase limits set by the TSX.

Purchases will occur on the open market via TSX and other Canadian trading systems, at prevailing market prices. The actual number of shares purchased will depend on market conditions and the corporation's discretion.

Management believes the current market price may not always reflect the shares' true value. Thus, buying back shares could benefit remaining shareholders. In the past year, Gamehost repurchased 532,449 shares at an average price of $9.35 each.