VANCOUVER, BC, Aug. 12, 2024 /CNW/ - In connection with the Normal Course Issuer Bid ("NCIB") previously announced on November 10, 2023, Thinkific Labs Inc. ("Thinkific" or the "Company") (TSX: THNC), a leading platform for creating, marketing and selling online learning products, announced that it has terminated the automatic share purchase plan (the "ExistingASPP") previously entered into with Cormark Securities Inc. (the "Broker") and established a new automatic share purchase plan (the "New ASPP") with the Broker.
Under the New ASPP, the Company has authorized the Broker to purchase Subordinate Voting Shares of the Company (each, a "SVS") under the NCIB during blackout periods implemented under the Company's Insider Trading Policy ("Blackout Periods") and outside of Blackout Periods only when instructed by the Company from time to time during the term of the New ASPP. The New ASPP will terminate on November 8, 2024, or earlier if the aggregate number of SVSs purchased under the NCIB reaches the Maximum Limit (as defined below) or if the NCIB has been terminated by the Company.
Trading limits and other parameters for purchases during Blackout Periods under the New ASPP have been pre-determined between the Company and the Broker in accordance with the rules and policies of the TSX and applicable securities laws.
Under the NCIB, the Company may purchase for cancellation up to an aggregate of 2,444,358 SVSs (the "Maximum Limit"), representing approximately 10% of the public float (as defined in the rules and policies of the TSX) of the SVSs as of October 30, 2023. Under the NCIB, other than purchases made under a block purchase exception in accordance with the rules and policies of the TSX, the Company may acquire, from time to time, up to 5,296 SVSs per day on the TSX, being 25% of the average daily trading volume of the SVSs for the period from May 1, 2023 to October 31, 2023. Under the NCIB, purchases will be made through the facilities of the TSX, and/or permitted alternative Canadian trading systems, at prevailing market prices or such other prices as permitted under the rules and policies of the TSX and applicable securities laws. All SVSs purchased by the Company under the NCIB will be cancelled.
At the time of terminating the Existing ASPP and establishing the New ASPP, Thinkific was not aware of or in possession of any material undisclosed information about the Company, the SVSs or any other of its securities.
About Thinkific
Thinkific (TSX:THNC) makes it simple for Creator Educators and established businesses of any size to scale and generate revenue by teaching what they know. Our Platform gives businesses everything they need to build, market, and sell digital learning products - from courses to communities - and to run their business seamlessly under their own brand, on their own site. Thinkific's 50,000+ active creators earn hundreds of millions of dollars in direct course, membership and community sales while teaching tens of millions of students. Thinkific is headquartered in Vancouver, Canada, with a distributed team.
This news release includes forward-looking statements and forward–looking information within the meaning of applicable securities laws ("forward-looking statements'"). Forward-looking statements are based on Thinkific's current expectations, estimates, projections and assumptions made in light of information available to it at the time such forward-looking statements are made and considers Thinkific's experience and its perception of trends. Forward-looking statements in this news release include statements regarding its intention to continue the NCIB, the termination of the Existing ASPP and the establishment of the New ASPP, the reasons for the NCIB, the timing and amount of purchases under the NCIB and the New ASPP and the cancellation of the SVSs purchased under the NCIB. Although Thinkific's management believes that the assumptions underlying these statements and information are reasonable, they may prove to be incorrect. Except as required by applicable securities laws, forward–looking statements and information speak only as of the date on which they are made and Thinkific undertakes no obligation to publicly update or revise any forward–looking statement or information, whether as a result of new information, future events or otherwise.
Forward-looking statements and information are not guarantees of future performance and involve a number of risks and uncertainties, some that are similar to other companies with online learning products and some that are unique to Thinkific. Thinkific's actual results may differ materially from those expressed or implied by its forward-looking statements, so readers are cautioned not to place undue reliance on them.
The Annual Information Form of the Company dated March 4, 2024 and other documents filed by it from time to time with securities regulatory authorities describe in greater detail the risks, uncertainties, material assumptions and other factors that could in?uence actual results and such factors are incorporated herein by reference. Copies of these documents are available under our profile on SEDAR+ at www.sedarplus.ca.
