LAVAL, QC, June 17, 2019 /CNW/ - Crescita Therapeutics Inc.
(TSX: CTX) (OTC US: CRRTF) ("Crescita" or the
"Company"), a Canadian commercial dermatology company with a
portfolio of non-prescription skincare products and prescription
drug products for the treatment and care of skin conditions,
diseases and their symptoms, announced today that it intends to
make a normal course issuer bid ("NCIB") for a portion of
its common shares ("Common Shares") as appropriate
opportunities arise from time to time. The Company's normal course
issuer bid, which is expected to be for up to 1,000,000 common
shares, or approximately 6% of its public float, will be made in
accordance with the requirements of the Toronto Stock Exchange (the
"TSX") and remains subject to TSX approval. Further details
regarding the NCIB will be provided following TSX
approval. The Company believes that purchases of Common Shares
at prices below the Company's view of its intrinsic value are in
the best interests of the Company and a desirable use of the
Company's capital.
The Company also announced today that it intends to adopt an
automatic securities purchase plan in connection with the NCIB that
contains strict parameters regarding how its Common Shares may be
repurchased during times when it would ordinarily not be permitted
to purchase Common Shares due to regulatory restrictions or
self-imposed blackout periods.
About Crescita Therapeutics Inc.
Crescita (TSX: CTX
and OTC US: CRRTF) is a publicly traded, Canadian commercial
dermatology company with a portfolio of non-prescription skincare
products and prescription drug products for the treatment and care
of skin conditions and diseases and their symptoms. Crescita owns
multiple proprietary drug delivery platforms that support the
development of patented formulations that can facilitate the
delivery of active drugs into or through the skin. Please visit
www.crescitatherapeutics.com for additional information.
Forward Looking Statements
Certain statements
contained in this news release constitute forward-looking
information within the meaning of applicable securities laws. In
some cases, forward-looking information can be identified by such
terms such as "may", "might", "will", "could", "should", "would",
"occur", "expect", "plan", "anticipate", "believe", "intend",
"estimate", "predict", "potential", "continue", "likely",
"schedule", or the negative thereof or other similar expressions
concerning matters that are not historical facts. Some of the
specific forward-looking statements in this news release include,
but are not limited to, statements with respect to the Company's
intention to make a NCIB and other related matters.
The Company has based these forward-looking statements on
factors and assumptions about future events and financial trends
that it believes may affect its financial condition, financial
performance, business strategy and financial needs. Although the
forward-looking statements contained in this news release are based
upon assumptions that management of the Company believe are
reasonable based on information currently available to management,
there can be no assurance that actual results will be consistent
with these forward-looking statements. Forward-looking statements
necessarily involve known and unknown risks and uncertainties, many
of which are beyond the Company's control, including, among other
things, the risks identified in materials filed under the Company's
profile at www.sedar.com from time to time. The forward-looking
statements made in this news release relate only to events or
information as of the date hereof. Except as required by applicable
Canadian law, the Company undertakes no obligation to update or
revise publicly any forward-looking statements, whether as a result
of new information, future events or otherwise, after the date on
which the statements are made or to reflect the occurrence of
unanticipated events.
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SOURCE Crescita Therapeutics Inc.