Toronto, Ontario–(Newsfile Corp. – March 24, 2020) – BeWhere (TSXV: BEW) (OTCQB: BEWFF) (“BeWhere” or the “Company”), a leading provider of Mobile Internet of Things (M-IoT) technology, announces that it intends, subject to regulatory acceptance, to purchase by way of a Normal Course Issuer Bid up to an aggregate of 4,394,400 of its Common Shares over the 12-month period following receipt of regulatory acceptance, which number of Common Shares represents approximately 5% of the issued and outstanding Common Shares of BeWhere.
“In the opinion of the Board of Directors of BeWhere, the market price of the Common Shares of BeWhere does not accurately reflect the value of those shares” says Paul Christie, Chairman of BeWhere. “As a result, the Corporation intends to repurchase BeWhere’s Common Shares that may become available for purchase; and at prices which make them an appropriate use of funds of the Corporation”.
Purchases subject to the Normal Course Issuer Bid will be carried out pursuant to open market transactions through the facilities of the TSX Venture Exchange. The Member through which the Normal Course Issuer Bid will be conducted is PI Financial Corp., Vancouver, British Columbia. All Common Shares purchased by BeWhere under the Normal Course Issuer Bid will be cancelled.
BeWhere (TSXV: BEW) (OTCQB: BEWFF) is a Mobile Internet of Things (“M-IOT”) solutions company that designs and sells hardware with sensors and software applications to track real-time information on non-powered fixed and movable assets, as well as monitor environmental conditions. The company develops mobile applications, middle-ware and cloud-based solutions that stand-alone or that can be readily integrated with existing software. BeWhere’ solutions are cutting edge, using the latest available cellular technologies (LTE-M and NB-IoT) and offering customers low-cost sophisticated technology to implement a new level of visibility to their businesses.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Margaux Berry, VP Strategy and Growth
1 (844) 229-4373 x 107
Source: BeWhere Holdings Inc.
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