Mundoro Announces Normal Course Issuer Buyback Program
Mundoro Announces Normal Course Issuer
Buyback Program
Vancouver, British Columbia--(Newsfile Corp. - December 14, 2023) -
Mundoro Capital Inc. (TSXV:
MUN) (OTCQB: MUNMF) (
www.mundoro.com
)
("
Mundoro
" or the "
Company
") is pleased to
announce that it has submitted to the TSX Venture ("TSXV") of its Notice of Intention to make a Normal
Course Issuer Bid (the "NCIB Program").
In the opinion of the Company, its common shares ("Common Shares") have been trading at prices that
do not reflect the underlying value of the Company, including its (i) strong financial position and positive
Cash from Operations as reported in the Q3-2023 Financial Statements, (ii) 10 active programs with 4
major mining companies, consisting of strategic alliances and joint ventures on projects held along two
highly prospective mineral belts namely: the Timok Magmatic Complex, in eastern Serbia that hosts
world class porphyry and epithermal deposits, and the Laramide Belt in Arizona which is a global leader
in copper production.
Accordingly, Mundoro believes purchasing its Common Shares at current price levels represents an
opportunity to enhance value for shareholders.
The Company's strong cash position allows for the implementation of the NCIB Program, subject to
regulatory approval, without adversely affecting Mundoro's growth opportunities.
Pursuant to the proposed NCIB Program, the Company plans to purchase for cancellation up to a
maximum of 5,224,434 of its Common Shares, or approximately 5% of the Common Shares
outstanding. As of November 4, 2023, there were 104,484,680 Common Shares of Mundoro Capital
issued and outstanding.
The purchases will be made by the Company through Independent Trading Group and in accordance
with the rules of the TSXV, and the price which the Company will pay for any such Common Shares will
be the market price at the time of acquisition. The Company will make no purchases of Common Shares
other than open market purchases or other means approved by the TSXV.
The actual number of Common Shares of the Company that are purchased for cancellations under the
Bid, if any, and the timing of such purchases will be determined by management as approved by the
Board of Directors of the Company.
About Mundoro Capital Inc.
Mundoro is a publicly listed company on the TSX-V in Canada and OTCQB in the USA with a portfolio of
mineral properties focused primarily on base and precious metals.
To drive value for shareholders,
Mundoro's asset portfolio generates near-term cash payments to Mundoro and creates royalties
attached to each mineral property optioned to partners.
The portfolio of mineral properties is currently
focused on predominantly copper in two mineral districts: Western Tethyan Belt in Eastern Europe and
the Laramide Belt in the southwest USA.
For further information about Mundoro, please contact
Teo Dechev, Chief Executive Officer,
President and Director, +1-604-669-8055, and Shamil Devji, Investor Relations Manager at +1-604-669-
8055.
You can also
visit Mundoro's website
www.mundoro.com
.
Caution Concerning Forward-Looking Statements
This News Release contains forward-looking statements. Forward-looking statements can be identified
by the use of forward-looking words such as "will", "expect", "intend", "plan", "estimate", "anticipate",
"believe" or "continue" or similar words or the negative thereof, and include the following: completion of
earn-in expenditures, options and completion of a definitive agreement by the parties. The material
assumptions that were applied in making the forward looking statements in this News Release include
expectations as to the mineral potential of the Company's projects, the Company's future strategy and
business plan and execution of the Company's existing plans. We caution readers of this News Release
not to place undue reliance on forward looking statements contained in this News Release, as there can
be no assurance that they will occur and they are subject to a number of uncertainties and other factors
that could cause actual results to differ materially from those expressed or implied by such forward-
looking statements. These factors include general economic and market conditions, exploration results,
commodity prices, changes in law, regulatory processes, the status of Mundoro's assets and financial
condition, actions of competitors and the ability to implement business strategies and pursue business
opportunities. The forward-looking statements contained in this News Release are expressly qualified in
their entirety by this cautionary statement. The forward-looking statements included in this News Release
are made as of the date of this News Release and the Board undertakes no obligation to publicly update
such forward-looking statements, except as required by law. Shareholders are cautioned that all forward-
looking statements involve risks and uncertainties and for a more detailed discussion of such risks and
other factors that could cause actual results to differ materially from those expressed or implied by such
forward-looking statements, refer to the Company's filings with the Canadian securities regulators
available on
www.sedar.com
.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/190923