INX to renew Share and Token Repurchase Programs

The INX Digital Firm, Inc. (NEO: INXD, INXATS: INX, OTCQB: INXDF), a regulated digital asset buying and selling platform proprietor, introduced on August 9, 2023, its intention to resume its regular course issuer bid (NCIB) program to repurchase widespread shares of the corporate. Alongside this, INX’s subsidiary, INX Restricted, intends to resume its INX Token repurchase program.

NCIB Program Particulars

The NCIB, accepted by the Neo Alternate Inc., working as Cboe Canada, permits the corporate to buy as much as 12,713,823 Widespread Shares, roughly 10% of the general public float as of July 28, 2023. The mixture buy worth for any Widespread Shares acquired underneath the NCIB and INX Tokens acquired underneath the token repurchase program should not exceed US$5 million.

Purchases underneath the NCIB could also be made via open market transactions on the NEO Alternate and/or Canadian various buying and selling techniques. Day by day purchases can’t exceed 31,348 Widespread Shares, 25% of the typical day by day buying and selling quantity on the NEO Alternate, measured from January 26, 2023, to July 26, 2023. Any Widespread Shares bought will likely be canceled.

INX Restricted Token Repurchase Program

Below this program, repurchases may be made utilizing numerous strategies, together with open market purchases, in compliance with U.S. SEC guidelines and different authorized necessities. The repurchase program doesn’t obligate the corporate to amass any particular variety of tokens, and it might be suspended or discontinued at INX Restricted’s discretion. INX Tokens bought will likely be retired.

Timing and Circumstances

The interval throughout which purchases underneath the NCIB and token repurchase program will start on August 11, 2023, and finish on the earliest of August 10, 2024, or when the mixture most variety of Widespread Shares are bought, or when the mixture buy worth reaches US$5 million.

Below its prior NCIB that commenced on March 23, 2022, and expired on March 23, 2023, INX bought 96,500 Widespread Shares and didn’t repurchase any INX Tokens.

Dealer Appointment

The corporate has appointed PI Monetary Corp. because the dealer to conduct purchases underneath the NCIB, in accordance with the insurance policies of the NEO Alternate.

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