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LOS ANGELES, September 23, 2022 (GLOBE NEWSWIRE) — Irwin Naturals Inc. (CSE: IWIN) (OTC: IWINF) (FRA: 97X) (“Irwin” or the “Company”) today announced its intention to commence a normal course issue offer (“NCIB”), pursuant to which the Company may purchase up to 75,466 subordinate voting shares (“SVS” or the “Shares”) of the company for a period of 12 months, representing approximately 5% of its SVS issued and outstanding as of September 26, 2022.
The Company is seeking an NCIB because it believes that, from time to time, the market price of its stock may not fully reflect the underlying value of the Company’s business and future prospects. Irwin believes that, at this time, the repurchase of his Shares for cancellation represents an appropriate use of the Company’s financial resources and will increase shareholder value. CEO Klee Irwin commented: “We are emerging to be the dominant player in the disruptive psychedelic mental health sector. Our portfolio of ketamine clinics is gaining momentum. Management and the board believe that as If the market recovers and the company continues to demonstrate earnings growth, shareholder value will be very positively impacted. As a result, we are taking advantage of the depressed stock market to buy back some of our stock.”
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NCIB
Canaccord Genuity Corp. has been appointed by the company to coordinate and facilitate its NCIB purchases. The purchases are expected to commence on September 26, 2022 and conclude on September 26, 2023 or an earlier date in the event that purchases under the NCIB have been completed or as the Company deems appropriate. All Shares acquired by the Company under the NCIB will be purchased in the open market through the facilities of the Canadian Stock Exchange (“CSE”) and/or alternative trading systems at the market price of the Shares in the time of acquisition. The shares will be purchased at the discretion of the Company’s senior management. The average daily trading volume of Shares on the CSE during the last six months is 1,644. The shares acquired by the Company under the NCIB will be cancelled. During the last twelve months, the Company has not acquired any Shares by virtue of a regular takeover bid through the facilities of the CSE.
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About Irwin Naturals
Irwin Naturals has been a household name and top formulator of herbal supplements since 1994. Now it is leveraging its brand to enter both the cannabis and psychedelic industries. With a mission to heal the world with plant medicine, Irwin has operated profitably for over 27 years¹. Irwin’s growing portfolio of products is available at more than 100,000 retail locations in North America, where nearly 100 million people know the Irwin Naturals brand.² In 2018, the company leveraged its brand for the first time to expand into the hemp industry by launching hemp-based CBD. mass market products. The company is now leveraging its famous halo of brand confidence with the goal of becoming one of the first household brands to offer THC-based products and psychedelic mental health treatments. Irwin Naturals became a publicly traded company on the Canadian Stock Exchange (CSE) in August 2021. The company’s shares began trading on the OTCQB venture market in November 2021. You can find more information about the company’s stock through Bloomberg and also in the Wall Street Journal.
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For investor-related company information, visit ir.irwinnaturals.com/
To contact the Company’s Investor Relations department, call toll-free (800) 883-4851 or email Investors@IrwinNaturals.com.
‘Klee Irwin
Klee Irwin
CEO
T: 310-306-3636
investors@irwinnaturals.com
IR information
Press Contact
Irwin Naturals Investor Relations
Cassandra Bassanetti-Drumm
T: 310-306-3636
investors@irwinnaturals.com
Prospective information
This press release contains certain forward-looking statements that reflect the current views and/or expectations of the Company’s management regarding future performance, business and events. Forward-looking statements can often be identified by words such as “may,” “will,” “could,” “should,” “believe,” “estimate,” “projects,” “potential,” “expect.” ”, “plans”, “intends”, “anticipates”, “targets”, “continues”, “forecasts”, “designed”, “target”, “goal” or the negative of these words or other similar or comparable words . Forward-looking statements are based on current expectations, beliefs, assumptions, estimates and forecasts about the company’s business and the industry and markets in which it operates. Forward-looking statements in this press release include statements relating to information regarding the Company’s intention to purchase shares under the NCIB, the Company’s belief that the shares may be undervalued from time to time, and the purchase of ‘shares under the NCIB will provide a benefit. to stockholders, the ability of the company to carry out the terms of the transaction referred to herein; the receipt of all necessary approvals, including required regulatory approvals; and the expectations of other economic, market, business and competitive factors. These statements are based on numerous assumptions that management believes are reasonable under the circumstances. Forward-looking statements are subject to a number of known and unknown risks, uncertainties and other factors that could cause actual results, performance or achievements to differ materially from those expressed or implied in such forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Accordingly, readers should not place undue reliance on forward-looking statements and information, which are qualified in their entirety by this cautionary statement. The Company undertakes no obligation to publicly issue any revisions to update any voluntary forward-looking statements, except as required by applicable securities law.
Neither the CSE nor its market regulator (as that term is defined in the CSE’s policies) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Irwin Naturals Inc.
¹ Under various corporate structures, Klee Irwin has operated the Irwin brand profitably since 1994, as measured by EBITDA adjusted for extraordinary costs.
¹ Consumer brand recognition information is based on a formal company survey with a sample size of 500
randomly selected adults.
