goeasy Ltd. Announces Renewal of Normal Course Issuer Bid

MISSISSAUGA, Ontario, Dec. 19, 2023 (GLOBE NEWSWIRE) -- goeasy Ltd. (TSX: GSY), (“goeasy” or the “Company”), one of Canada’s leading non-prime consumer lenders, announced today the acceptance by the Toronto Stock Exchange (the “TSX”) of goeasy’s notice of intention to renew its normal course issuer bid (the “NCIB”). Pursuant to the NCIB, goeasy may purchase for cancellation up to an aggregate of 1,270,245 common shares in the capital of the Company (the “Common Shares”), representing approximately 10% of goeasy’s public float. As at December 13, 2023, goeasy had 16,603,531 Common Shares issued and outstanding.

Under the NCIB, goeasy may purchase up to 7,302 of its Common Shares on the TSX during any trading day, which represents 25% of the average daily trading volume of 29,210 Common Shares on the TSX for the six months ended November 30, 2023, other than block purchase exemptions. Purchases under the NCIB may commence on December 21, 2023 and continue until December 20, 2024 or such earlier date as goeasy completes its purchases pursuant to the NCIB.

The NCIB will be conducted through the facilities of the TSX or alternative Canadian trading systems, if eligible, and the price that goeasy will pay for any Common Shares will be the market price prevailing at the time of purchase or such other price as may be permitted. Purchases under the NCIB will be made by means of open market transactions or other such means as a securities regulatory authority may permit.

In connection with the NCIB renewal, the Company also announces that it has entered into an issuer automatic purchase plan agreement (the “Plan”) with an independent designated broker (the “Broker”) responsible for making purchases of Common Shares pursuant to the Plan. Under the Plan, the Broker will have sole discretion to purchase Common Shares pursuant to the NCIB during trading black-out periods established under the Company’s Insider Trading Policy, subject to the price limitations and other terms of the Plan and the rules of the TSX. The Company may instruct the Broker to make specific purchases and suspend or terminate the Plan, provided in each case that the Company certifies to the Broker that it is not in possession of any material undisclosed information and such request is otherwise in compliance with the terms of the Plan.