Mattr (TSE:MATR) has released an update.
Mattr Corp. has announced the renewal of its normal course issuer bid, allowing the company to repurchase up to 4,982,824 of its Common Shares to potentially enhance shareholder value. The buyback program, which represents about 10% of the public float, will utilize existing cash resources and the repurchased shares will be cancelled. This initiative is part of Mattr’s strategy to manage capital and will be conducted through the Toronto Stock Exchange and alternative trading systems.
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