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SOL Global purchases C$4.9M of common shares under normal course issuer bid

SOL Global Investments Corp. completed its purchase of 2,451,861 common shares at an average purchase price of C$2 per share under a normal course issuer bid.

The total purchase price for the shares, as calculated by S&P Global Market Intelligence, is about C$4.9 million.

According to a Jan. 8 news release, the purchased shares represented about 5% of the Toronto-based investment company's issued and outstanding common shares as of Oct. 8, 2018, when the normal course issuer bid was started.

The company now has 47,009,520 issued and outstanding shares.

SOL Global, which focuses on investments in cannabis and cannabis-related companies, said the shares were purchased through the facilities of the Canadian Securities Exchange, and all of the purchased shares have been canceled.

Clarus Securities Inc. acted as the broker to conduct the normal course issuer bid on behalf of SOL Global.