Pineapple Financial Inc. announced that its Board of Directors approved an expansion of its share repurchase program, increasing the aggregate authorization from US$3,000,000 to up to US$15,000,000.
Key takeaways
Board approved a five-fold increase in share repurchase authorization from US$3 million to US$15 million.
Repurchases will be executed in open market transactions under Rule 10b-18 and Rule 10b5-1 safe harbors.
The company intends to commence repurchasing shares immediately under the existing authorization.
The program is discretionary regarding timing, price, and amount, and may be suspended or terminated at any time.