INX Digital Company Unveils Plan to Buy Back Shares to Enhance Value

INX Digital Company's Exciting Share Buyback Announcement

The INX Digital Company, Inc. (CBOE: INXD) is thrilled to share its latest initiative aimed at enhancing shareholder value – a Normal Course Issuer Bid (NCIB) program. As a top player in the digital asset trading sector, INX aims to put its financial resources towards the repurchase of its common shares in a strategic move to reflect true value and confidence in its future.

Details of the NCIB Initiative

Under the planned NCIB, which has received clearance from CBOE Canada, INX intends to buy back up to 15,185,615 common shares. This amount represents approximately 10% of the public float as of late August. INX aims to uphold fiscal responsibility with a purchase price limit set at US$5 million for shares and associated tokens from previous programs.

Purchase Strategy and Conditions

Purchases will be carried out through open market transactions on the CBOE at fair market prices. Regulatory conditions stipulate that purchases made under the NCIB will be limited daily to 8,881 shares, which reflects 25% of the average daily trading volume. The commitment to cancel any shares acquired under this program ensures that shareholders understand INX's long-term vision and strategic direction.

Market Dynamics and Strategic Outlook

INX's decision to initiate this buyback program comes from their assessment of market conditions and a belief in the undervaluation of their shares. The management team is poised to take action based on varying market conditions and feels confident that repurchasing shares will bolster the overall perception and positioning of INX in the eyes of investors.

Selection of the Broker

PI Financial Corp. has been designated as INX's broker for the execution of this buyback program, ensuring alignment with the CBOE's regulations and practices as purchases unfold over the coming period.

Looking Ahead: Timeline and Anticipations

The NCIB will kick off shortly and is estimated to last until the earlier of a full buyback or operational completion in September of the following year. This proactive approach also considers the completion of INX's earlier NCIB, which culminated in a modest share repurchase against the backdrop of broader market activities. Furthermore, the company hasn't yet engaged in repurchasing any INX Tokens under its dedicated token program.

Understanding INX: The Company Behind the Initiative

INX is not just a trading platform; it's the foundation of a larger vision to become a global leader in regulated digital asset exchanges. The company combines traditional finance with innovative fintech solutions to meet today’s financial demands. This firmly held philosophy is carried by a team skilled in navigating the complex landscape of digital finance and regulatory frameworks.

INX's Future Goals

With its roots as a pioneering platform, INX continues to focus on expanding its capabilities within the digital securities and cryptocurrency space. The company fosters innovation driven by blockchain technology and maintains an unwavering commitment to regulatory compliance, setting a formidable example in the market.

Frequently Asked Questions

What is the purpose of the NCIB by INX Digital Company?

The NCIB is intended to repurchase common shares to enhance shareholder value and reflect the true market value of the company's shares.

Can investors expect to see any changes in share prices due to the NCIB?

While the aim is to positively impact the share value through strategic buybacks, actual market performance can fluctuate based on various factors.

Who is handling the buyback transactions for INX?

INX has appointed PI Financial Corp. as the broker for its buyback transactions to ensure alignment with CBOE regulations.

What is the significance of the share limit under the NCIB?

The share limit ensures that the buyback is conducted under prudent financial guidelines without overly impacting the market.

How does INX plan to manage market fluctuations during the buyback?

INX retains discretion over the timing and pricing of purchases, adapting to ongoing market conditions to maximize effectiveness.

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