Not for distribution to United States newswire services or for dissemination in the United States
BURNABY, BC, April 27, 2018 – Taiga Building Products Ltd. (“Taiga” or the “Company“) (TSX: TBL) announces that the Toronto Stock Exchange (the “TSX“) has accepted Taiga’s notice of intention to make a normal course issuer bid (the “NCIB“) for its common shares (Trading Symbol: TBL) (the “Common Shares“) through the facilities of the TSX or any other Canadian public marketplace or alternative trading system. On May 1, 2018, Taiga may commence making purchases, from time to time, up to a maximum of 5,841,155 of its 116,823,109 outstanding Common Shares as at the date hereof, representing 5% of the outstanding Common Shares. The NCIB will terminate on April 30, 2019 or earlier if Taiga has completed its purchases of the securities subject to the NCIB. Purchases may be suspended by Taiga at any time and Taiga reserves the right to terminate the NCIB earlier if it determines it is appropriate to do so.
Taiga believes that the NCIB is in the best interests of the Company and its shareholders and that the NCIB represents a desirable use of corporate funds. Any securities acquired will be purchased at the market price up to a daily maximum of 14,361 Common Shares, being 25% of the average daily trading volume for the last six completed calendar months of 57,444 Common Shares, subject to the block purchase exemption, and will be cancelled following purchase.
For further information, please contact:
VP, Finance & Administration and CFO
This news release contains forward-looking information that is based on current expectations, beliefs, assumptions, estimates and forecasts about the business and the industry and markets in which the Company operates. Forward-looking information does not guarantee future performance and involves risks, uncertainties and assumptions which are difficult to predict and which may cause Taiga’s actual results in future periods to differ materially from expected results. In particular, statements about the Company’s plans, intentions or potential outcome regarding the NCIB constitute forward-looking information. Investors are cautioned that all forward-looking information involves risks and uncertainties including, without limitation, those risk factors listed from time to time in the Company’s public filings. These risks, as well as others, could cause actual results and events to vary significantly. Accordingly, readers should not place undue reliance on forward-looking information, which are qualified in their entirety by this cautionary statement. Taiga does not undertake any obligation to release publicly any revisions to or updating any voluntary forward-looking information, except as required by applicable securities law.