LAS VEGAS--(BUSINESS WIRE)--Realbotix Corp. (TSX-V: XBOT | Frankfurt Stock Exchange: 76M0.F | OTC: XBOTF) (“Realbotix” or the “Company”), a leading creator of humanoid robots and companionship-based AI, announces that the TSX Venture Exchange (“TSXV”) has accepted its notice to implement a normal course issuer bid (“NCIB”) to purchase, for cancellation, up to 9,797,779 of its common shares (“Shares”), or approximately 5% of the Company’s outstanding common shares, as at October 15, 2024. Realbotix has appointed Kernaghan & Partners Ltd. to administer the NCIB on behalf of the Company.
Realbotix’s Board of Directors and management believe that the market price of the Company's Shares, from time to time, may not reflect the inherent value of the Company and purchases of Shares pursuant to the NCIB may represent an appropriate and desirable use of funds.
Purchase of the Shares may commence on November 1, 2024 and will expire on the earlier of October 31, 2025 or the date on which the Company has either acquired the maximum number of Shares allowable or otherwise decides not to make any further repurchases. Purchases of Realbotix’s Shares under the NCIB may be made through the facilities of the TSXV and alternative trading systems by means of open market transactions or by such other means as may be permitted by the Canadian Securities Administrators (the "CSA") and under applicable securities laws, including by private agreement pursuant to issuer bid exemption orders issued by applicable securities regulatory authorities.
The price the Company will pay for any Shares will be the market price at the time of purchase or such other price as may be permitted by the CSA. Any private purchase made under an exemption order issued by a securities regulatory authority will generally be at a discount to the prevailing market price. In connection with the NCIB, Realbotix will enter into an automatic purchase plan ("Plan") with its designated broker to allow for purchases of its Shares during internal blackout periods. Such purchases would be at the discretion of the broker based on parameters established by the Company prior to any blackout period or any period when it is in possession of material undisclosed information.
Outside of these periods, the Shares will be repurchased in accordance with management's discretion, subject to applicable law. The Plan may be terminated by Realbotix or its broker in accordance with its terms or will terminate on the expiry of the NCIB. As of October 15, 2024, the Company has 195,955,592 Shares issued and outstanding and a public float of 114,508,277. Realbotix will not acquire, through the facilities of the TSXV and alternative trading systems, more than 57,685 Shares during a trading day (which is equal to 25% of 230,742 Shares, being the average daily trading volume on all exchanges for six calendar months prior to the date hereof), subject to certain exceptions for block purchases. The actual number of Shares that will be repurchased under the NCIB, and the timing of any such purchases, will be determined by Realbotix on management's discretion, subject to applicable securities laws. There cannot be any assurances as to how many Shares, if any, will ultimately be acquired by the Company.
About Realbotix
Transcending the barrier between man and machine, Realbotix creates human-like, socially intelligent robots that improve the human experience through learning, connection and play. Manufactured in Nevada, USA, Realbotix has built a reputation for building robots with the most realistic human appearance on the market. Our target addressable markets are massive, most of them in the tens or hundreds of billions USD.
Our mission is to create robots and AI that are indistinguishable from humans in appearance and social interaction. Realbotix replicates the physical and emotional aspects of being human, in hardware and software. This versatility makes our robots and their personalities customizable and programmable to suit a wide variety of use cases.
Visit Realbotix.AI to learn more.
Keep up-to-date on Realbotix.AI developments and join our online communities on Twitter, LinkedIn, and YouTube.
Follow Aria, our humanoid robot, on Instagram and TikTok.
Forward-Looking Statements
Forward-Looking Statements This news release includes certain forward-looking statements as well as management’s objectives, strategies, beliefs and intentions. Forward looking statements are frequently identified by such words as “may”, “will”, “plan”, “expect”, “anticipate”, “estimate”, “intend” and similar words referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, as described in more detail in our securities filings available at www.sedarplus.ca. Actual events or results may differ materially from those projected in the forward-looking statements and we caution against placing undue reliance thereon. We assume no obligation to revise or update these forward-looking statements except as required by applicable law.
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.
