Vancouver, British Columbia--(Newsfile Corp. - April 7, 2025) - Neptune Digital Assets Corp. (TSXV: NDA) (OTCQB: NPPTF) (FSE: 1NW) ("Neptune" or the "Company"), a blockchain leader in Canada, is pleased to announce that the TSX Venture Exchange (the "Exchange") has accepted the Company's notice of intention to renew its Normal Course Issuer Bid ("NCIB") to purchase outstanding common shares of Neptune ("Common Shares") through the facilities of the Exchange or alternative trading systems.
Under the terms of the NCIB, the Company may purchase for cancellation up to 11,328,130 Common Shares, representing 10% of its Public Float (as defined by the Exchange) as of April 7, 2025. The renewed NCIB will commence on April 14, 2025 and will terminate on April 13, 2026, or at such earlier time as the purchases under the NCIB are completed or the NCIB is terminated at the option of Neptune.
Neptune is renewing the NCIB because it believes that the market price of the Common Shares may not, from time to time, fully reflect their value and, accordingly, the purchase of the Common Shares would be in the best interest of the Company and an attractive and appropriate use of available funds. It is expected that any purchases made by the Company could also enhance value and liquidity for its shareholders.
The purchase and payment for the Common Shares will be made by Neptune through the facilities of the Exchange or alternative trading systems. All purchases by the Company under the NCIB will be made through Haywood Securities Inc., as broker dealer of the Company, and all Common Shares purchased under the NCIB will be cancelled. The price paid for the Common Shares will be, subject to NCIB pricing rules contained in securities laws, the prevailing market price of such Common Shares on the Exchange at the time of such purchase. Neptune intends to fund the purchases out of available cash and working capital.
To the knowledge of Neptune, no director, senior officer or other insider of the Neptune currently intends to sell any Common Shares under the NCIB. However, sales by such persons may occur if the personal circumstances of any such person changes or any such person makes a decision unrelated to these NCIB purchases. The benefits to any such person whose Common Shares are purchased would be the same as the benefits available to all other holders whose Common Shares are purchased.
Under its prior NCIB, which expired on April 1, 2025, the Company purchased an aggregate of 865,500 Common Shares through the facilities of the Exchange and alternative trading systems.
About Neptune Digital Assets Corp.
Neptune Digital Assets Corp. (TSXV: NDA) (OTCQB: NPPTF) (FSE: 1NW) is one of the first publicly traded blockchain companies in Canada and is at the forefront of the cryptocurrency and blockchain landscape. Neptune engages in operations across the digital asset ecosystem including Bitcoin mining, proof-of-stake mining, blockchain nodes, decentralized finance (DeFi), and other associated cutting-edge technology. Our unwavering commitment to innovation and strategic growth enables us to continually explore new opportunities and maximize value for our shareholders. For more information about Neptune Digital Assets Corp., please visit our website at www.neptunedigitalassets.com or follow us on X (@NeptuneDAC).
ON BEHALF OF THE BOARD
Cale Moodie, President and CEO
Neptune Digital Assets Corp.
1-800-545-0941
www.neptunedigitalassets.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
Certain information set forth in this news release contains forward-looking statements or information ("forward-looking statements"), including details about the business of the Company. All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. In particular, this news release contains forward-looking information which includes but is not limited to: the expected benefits and advantages of the renewed NCIB to the Company and its shareholders; that the Company will repurchase Common Shares pursuant to the renewed NCIB; the commencement and end date of the NCIB. By their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond the Company's control, the impact of general economic conditions, industry conditions, volatility of commodity prices, currency fluctuations, environmental risks, operational risks, competition from other industry participants, stock market volatility. Although the Company believes that the expectations in its forward-looking statements are reasonable, its forward-looking statements have been based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information and on assumptions the Company believes are reasonable. These assumptions include, but are not limited to: the underlying value of Neptune and its Common Shares; the ability of Neptune to complete purchases under the NCIB . Such statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward-looking statements. Accordingly, readers are cautioned not to place undue reliance on the forward-looking statements, as no assurance can be provided as to future results, levels of activity or achievements. Risks, uncertainties, material assumptions and other factors that could affect actual results are discussed in the Company's public disclosure documents available at www.sedarplus.ca. Furthermore, the forward-looking statements contained in this document are made as of the date of this document and, except as required by applicable law, the Company does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement.
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SOURCE: Neptune Digital Assets Corp
