Trez Capital Senior Mortgage Investment Corporation Announces Normal Course Issuer Bid - Canada NewsWire | Canada News Media
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Trez Capital Senior Mortgage Investment Corporation Announces Normal Course Issuer Bid – Canada NewsWire

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/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/

TORONTO, Aug. 11, 2020 /CNW/ – Trez Capital Senior Mortgage Investment Corporation (TSX: TZS)  (“Trez” or “the Company”) announced today that it has received approval from the Toronto Stock Exchange (“TSX”) to commence a normal course issuer bid (“NCIB”), which will enable it to purchase up to 429,087 of its 7,318,067 Class A shares (“Shares”) as at August 4, 2020, representing approximately 10% of its public float of 4,290,877 Shares as at that date.

Trez intends to commence the NCIB on August 13, 2020. The NCIB will expire on August 12, 2021 or such earlier date as the Company completes its purchases pursuant to the NCIB. All purchases under the NCIB will be made on the open market through the facilities of the TSX or alternative trading systems in Canada at market prices prevailing at the time of purchase. In accordance with TSX rules, any daily repurchases will be limited to a maximum of 1,000 Shares, based on the average daily trading volume of the Company’s Shares on the TSX for the six months ended July 31, 2020 (being 3,258 Shares). Any Shares purchased by the Company will be cancelled.

On June 16, 2016, the Shareholders of the Company approved the orderly wind-up of the Company. The primary purpose of the NCIB is to distribute net proceeds under the orderly wind-up plan to Shareholders.

In connection with the NCIB, Trez intends to enter into an automatic purchase plan with its broker on August 13, 2020 to allow for the purchase of Shares at times when Trez ordinarily would not be active in the market due to its own internal trading blackout periods, insider trading rules or otherwise, in accordance with applicable Canadian securities laws.

About the Company

On June 16, 2016 the Shareholders of the Company approved the orderly wind-up of the Company. Under the orderly wind-up plan the Company will distribute the net proceeds through special distributions, the repurchase of shares pursuant to the normal course issuer bid, or otherwise.

SOURCE Trez Capital Senior Mortgage Investment Corporation

For further information: Alexander Manson, Chief Executive Officer, Trez Capital, Tel: (604) 630-0775, Email: [email protected]

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S&P/TSX composite up more than 100 points, U.S. stock markets mixed

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TORONTO – Canada’s main stock index was up more than 100 points in late-morning trading, helped by strength in base metal and utility stocks, while U.S. stock markets were mixed.

The S&P/TSX composite index was up 103.40 points at 24,542.48.

In New York, the Dow Jones industrial average was up 192.31 points at 42,932.73. The S&P 500 index was up 7.14 points at 5,822.40, while the Nasdaq composite was down 9.03 points at 18,306.56.

The Canadian dollar traded for 72.61 cents US compared with 72.44 cents US on Tuesday.

The November crude oil contract was down 71 cents at US$69.87 per barrel and the November natural gas contract was down eight cents at US$2.42 per mmBTU.

The December gold contract was up US$7.20 at US$2,686.10 an ounce and the December copper contract was up a penny at US$4.35 a pound.

This report by The Canadian Press was first published Oct. 16, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

The Canadian Press. All rights reserved.

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S&P/TSX up more than 200 points, U.S. markets also higher

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TORONTO – Canada’s main stock index was up more than 200 points in late-morning trading, while U.S. stock markets were also headed higher.

The S&P/TSX composite index was up 205.86 points at 24,508.12.

In New York, the Dow Jones industrial average was up 336.62 points at 42,790.74. The S&P 500 index was up 34.19 points at 5,814.24, while the Nasdaq composite was up 60.27 points at 18.342.32.

The Canadian dollar traded for 72.61 cents US compared with 72.71 cents US on Thursday.

The November crude oil contract was down 15 cents at US$75.70 per barrel and the November natural gas contract was down two cents at US$2.65 per mmBTU.

The December gold contract was down US$29.60 at US$2,668.90 an ounce and the December copper contract was up four cents at US$4.47 a pound.

This report by The Canadian Press was first published Oct. 11, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

The Canadian Press. All rights reserved.

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S&P/TSX composite little changed in late-morning trading, U.S. stock markets down

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TORONTO – Canada’s main stock index was little changed in late-morning trading as the financial sector fell, but energy and base metal stocks moved higher.

The S&P/TSX composite index was up 0.05 of a point at 24,224.95.

In New York, the Dow Jones industrial average was down 94.31 points at 42,417.69. The S&P 500 index was down 10.91 points at 5,781.13, while the Nasdaq composite was down 29.59 points at 18,262.03.

The Canadian dollar traded for 72.71 cents US compared with 73.05 cents US on Wednesday.

The November crude oil contract was up US$1.69 at US$74.93 per barrel and the November natural gas contract was up a penny at US$2.67 per mmBTU.

The December gold contract was up US$14.70 at US$2,640.70 an ounce and the December copper contract was up two cents at US$4.42 a pound.

This report by The Canadian Press was first published Oct. 10, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

The Canadian Press. All rights reserved.

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