Doman Building Materials Group Ltd. Announces Normal Course Issuer Bid

NOT FOR RELEASE OR DISSEMINATION INTO THE UNITED STATES

VANCOUVER, British Columbia, Nov. 24, 2021 (GLOBE NEWSWIRE) -- Doman Building Materials Group Ltd. (“Doman” or the “Company”) (TSX:DBM) announced that The Toronto Stock Exchange (“TSX”) has accepted today the Company’s notice of intention to proceed with a normal course issuer bid through the facilities of the TSX and other Canadian marketplaces and alternative trading systems.

The Company intends to purchase for cancellation up to 6,825,000 of its common shares by way of a normal course issuer bid through the facilities of the TSX and other Canadian marketplaces and alternative trading systems. The 6,825,000 common shares represent approximately 10% of the public float per TSX policies. Pursuant to such TSX policies, daily purchases made by the Company will not exceed 87,011 common shares or approximately 25% of the average daily trading volume of 348,044 common shares on the TSX during the prior six full months of trading, subject to certain prescribed exceptions. As of November 16, 2021, the Company had 86,687,844 issued and outstanding common shares.

Although the Company intends to purchase common shares for cancellation under its normal course issuer bid, there can be no assurances that any such purchases will be completed. Such purchases, if any, may commence on November 26, 2021 and will terminate on November 25, 2022, or on such earlier date as the Company may complete its purchases pursuant to the notice of intention filed today with the TSX or provide notice of termination. Any such purchases will be made by the Company at the prevailing market price at the time of acquisition and through the facilities of the TSX and other Canadian marketplaces and alternative trading systems.

The Company believes that the market price of the common shares may, at certain times throughout the duration of the normal course issuer bid, be undervalued based solely on the Company’s opinion.

To the best of the knowledge of the directors and senior officers of the Company, no director, senior officer, associate of a director or senior officer, or person holding 10% or more of the common shares of Doman intends at present to sell common shares during the course of this bid. However, sales by such persons through the facilities of the TSX or elsewhere may occur as the personal circumstances or decisions of any such person, unrelated to the bid, determine. The benefits to any such person whose common shares are purchased would be the same as the benefits available to all other holders whose common shares are purchased.