• Home
  • Products
  • Applications
  • Investors
  • Company
  • Contact

Home › Press Releases › Photon Control Announces Extension of Normal Course Issuer Bid

Photon Control Announces Extension of Normal Course Issuer Bid

January 2, 2018

Richmond, BC, January 2, 2018 – Photon Control Inc. (“Photon Control” or the “Company”) (TSX-V: PHO), a leading developer and supplier of optical measurement technologies to the global semiconductor industry, is pleased to announce that the TSX Venture Exchange (“TSX-V”) has accepted the Company’s notice of intention to make a normal course issuer bid (the “NCIB”) for its common shares through the facilities of the TSX-V. On January 4, 2018, the Company may commence making purchases of up to a maximum of 5,500,000 common shares, which represents approximately 5% of the Company’s 110,853,718 issued and outstanding common shares as at the close of trading on December 29, 2017. A purchase of common shares under the NCIB also may not, when aggregated with the total of any other purchases in the 30 days preceding the purchase, whether through the facilities of the TSX-V or otherwise, exceed 2% of the total issued and outstanding common shares of the Company at the time the purchase is made.

There can be no assurance as to the number of shares, if any, that may be repurchased under the plan or the aggregate dollar amount expended. The Company may discontinue purchases at any time, subject to compliance with applicable regulatory requirements.

Said Scott Edmonds, President and CEO, “The Company’s priorities for capital deployment are first funding product development for growth, followed by M&A activity, and thirdly ongoing share repurchases. The Company has renewed its NCIB to ensure the ability to pursue such opportunities as authorized by its Board of Directors. The normal course issuer bid will terminate on the earlier of the date determined by the Company and January 3, 2019.”

About Photon Control Inc.

Photon Control Inc. designs, manufactures and distributes a wide range of optical sensors and instruments to measure temperature, position, and flow. These products are used by global Original Equipment Manufacturers (OEM) and end users in the semiconductor and other industries. Photon Control Inc.’s high quality products provide industry leading accuracy and reliability in extreme conditions and are backed by a team of experts providing a variety of on-site and remote services including custom design, installation, training and support. Headquartered in an ISO 9001:2008 manufacturing facility in Richmond, BC, Photon Control Inc. is listed on the TSX Venture Exchange, trading under the symbol ‘’PHO.” Additional information about the company can be found at www.photon-control.com/investors.html

Investor Relations Contact:
ir@photon-control.com

Forward-Looking Statements

This news release contains forward looking statements, including statements relating to the Company’s intentions to purchase common shares under the normal course issuer bid, which involve risks and uncertainties. Although the Company believes that the proposed purchase of common shares under the normal course issuer bid is based upon reasonable assumptions and expectations, these risks and uncertainties may cause the Company’s actual results to differ materially from those contemplated or implied by the forward-looking statements. Factors that might cause or contribute to such differences include, among others, general economic conditions, the performance of the common shares of the Company or stock markets generally, competitive pressures, competing technologies and the market acceptance of the Company’s photonic-based products as a replacement to existing technologies and products. Readers are encouraged to consider the other risks and uncertainties discussed in and additional information contained in the Company’s financial statements and filings filed on SEDAR at www.sedar.com.

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.

 

  • Privacy Policy
  • Terms and Conditions
  • ISO 9001-2015 Certificate
  • Products
  • About Us
  • Careers
  • Contact
  • Customer Service
  • +1 855.574.6866
  • customerserviceOSP@mksinst.com

  Copyright © 2021

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
In case of sale of your personal information, you may opt out by using the link Do not sell my personal information.
Cookie settingsACCEPT
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.
Analytics
Always Enabled
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
Save & Accept
Powered by CookieYes Logo