Flow Capital Corp.'s board authorized a substantial issuer bid to repurchase for cancellation up to C$4 million of the company's common shares.
Shareholders can select a price range of 15 Canadian cents to 20 cents if they participate in the offer. Flow Capital will then determine the lowest price that will enable it to repurchase the common shares for an amount not exceeding C$4 million.
The offer, being made by way of a modified Dutch auction, started Aug. 29 and is set to end at 5 p.m. ET on Oct. 7, unless extended or withdrawn.
