VANCOUVER, BC, Nov. 23,
2022 /CNW/ - Premium Brands Holdings Corporation
(TSX: PBH) (the "Company") announced today that it has
established an automatic share purchase plan ("ASPP") in
connection with its previously announced normal course issuer bid
("NCIB") to purchase for cancellation up to 2,239,887 of its
common shares. The ASPP is intended to allow for the purchase of
common shares under the NCIB at times when the Company would
ordinarily not be permitted to purchase shares due to regulatory
restrictions and customary self-imposed blackout periods.
Pursuant to the ASPP, purchases will be made by the Company's
designated broker based on pre-established purchasing parameters,
without further instruction by the Company, in compliance with the
rules of the Toronto Stock Exchange ("TSX"), applicable
securities laws and the terms of the ASPP. The ASPP has been
pre-cleared by the TSX and was implemented effective November 3, 2022.
The NCIB commenced on July 26,
2022 and will terminate on July 25,
2023, or on such earlier date as the Company completes the
purchase of the maximum number of common shares permitted under the
NCIB.
All purchases made under the ASPP will be made on the open
market through the facilities of the TSX and/or alternative
Canadian trading platforms, in accordance with their policies, and
will be included in computing the number of shares purchased under
the NCIB. The price to be paid by the Company for its common shares
will be the market price at the time of purchase. Any common shares
purchased by the Company under the NCIB will be cancelled.
About Premium Brands
Premium Brands owns a broad range of leading specialty food
manufacturing and differentiated food distribution businesses with
operations across Canada,
the United States and Italy.
www.premiumbrandsholdings.com
Forward Looking
Statements
This press release contains forward looking statements with
respect to the Company, including, without limitation, the
statements related to the Company's NCIB and ASPP and the number of
common shares that may be purchased thereunder. While management
believes that the expectations reflected in such forward looking
statements are reasonable and represent the Company's internal
expectations and beliefs as of the date of this press release,
there can be no assurances that such expectations will prove to be
correct as such forward looking statements involve unknown risks
and uncertainties beyond the Company's control which may cause the
actual results, performance and achievements of the Company to be
materially different from any future results, performance or
achievements expressed or implied by such forward looking
statements. Such risks and uncertainties include, without
limitation, market reaction to the NCIB and those assumptions
outlined in the Company's 2022 Management's Discussion and Analysis
under Risks and Uncertainties, which is filed electronically
through SEDAR and available online at www.sedar.com.
Unless otherwise indicated, the forward looking statements in
this press release are made as of the date hereof and, except as
required by applicable law, will not be publicly updated or
revised. This cautionary statement expressly qualifies the
forward looking information in this press release.
SOURCE Premium Brands Holdings Corporation
