Edmonton, Alberta, April 14, 2025 – Titan Logix Corp. (TSX Venture: TLA) (“Titan” or the “Company”), a technology company specializing in mobile liquid measurement solutions, is pleased to announce that the TSX Venture Exchange (“TSXV”) has accepted the Company’s notice of intention to implement a Normal Course Issuer Bid (“NCIB”).
Under the NCIB, the Company may purchase for cancellation up to 1,759,649 common shares representing approximately 10% of the public float of its issued and outstanding common shares as of April 17, 2025, commencing on that date and ending on April 16, 2026, or such earlier date as the NCIB is completed or terminated at the Company’s discretion. To facilitate the NCIB, the Company has implemented an Automatic Share Purchase Plan (“ASPP”) with its designated broker, Raymond James Ltd in accordance with TSXV Policy 5.6 and applicable securities laws.
All purchases under the NCIB will be made through the facilities of the TSXV or other recognized Canadian marketplaces in accordance with TSXV Policy 5.6 and the terms of the ASPP, including applicable pricing limits under the ASPP. Any common shares purchased under the NCIB will be cancelled. The Company has not purchased any of the securities that are the subject of this NCIB. The ASPP allows for purchases of shares under the NCIB at times when the Company may otherwise be restricted from buying shares due to insider trading rules or corporate blackout periods. As of April 17, 2025, the implementation date of the ASPP, the Company is not in possession of any undisclosed material information and not in a blackout period. Under the ASPP, the common shares will be repurchased over a 12-month period commencing on April 17, 2025, and ending on April 16, 2026, unless terminated earlier in accordance with the ASPP.
The ASPP permits the Company to terminate the agreement at its sole discretion, provided it is not in possession of any undisclosed material information and not in a blackout period, by providing its broker with twenty (20) days’ written notice. Promptly following such notice, the Company shall issue a press release confirming the termination and stating that it was not in possession of any undisclosed material information at the time of termination. The ASPP will automatically terminate when the maximum amount of shares are purchased or if the Company makes a public announcement regarding a public offering, an intention to undertake a change in control transaction, the Company’s intention to effect a sale from a control block or control distribution, a take-over bid or form of business combination of which securities would be exchanged for or converted into cash, securities or other property.
The Board of Directors believes that the current market price of the Company’s shares does not fully reflect the underlying value of the Company’s business and prospects. As such, the NCIB represents an appropriate use of the Company’s financial resources and demonstrates the Board’s confidence in Titan’s long-term strategy and growth potential.
The Company remains committed to executing its strategic plan while maintaining financial flexibility. The Board will continue to assess market conditions and other relevant factors to determine the appropriate actions in the best interests of the Company and its shareholders.www.sedarplus.ca.
About Titan Logix Corp.:
For over 25 years, Titan Logix Corp. has designed and manufactured advanced measurement solutions to help businesses reduce risk and maximize efficiencies in bulk liquids transportation. Titan’s TD Series of tank level monitors are a market leader in mobile fluid measurement, and are known for their high level of accuracy, rugged design, and solid-state reliability. Our solutions are designed for hazardous and non-hazardous applications, and we serve customers in a wide range of applications including petroleum, environmental solutions, chemical, and agriculture.
Founded in 1979, Titan Logix Corp. is a public company listed on the TSX Venture Exchange and its shares trade under the symbol TLA.
Neither 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.
Contact Information:
Nick Forbes
Chief Executive Officer
Ph: (403) 561-8095
Email: [email protected]
www.titanlogix.com
TSX Venture, TLA