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Wall Financial Corporation Renews Normal Course Issuer Bid

VANCOUVER, BC, March 13, 2024 /CNW/ – WALL FINANCIAL CORPORATION (TSX: WFC)

The Company announced today that it has received approval from the Toronto Stock Exchange to renew its normal course issuer bid (the “Bid”) to purchase up to 672,142 Common Shares (“Shares”) in total, being approximately 10% of the Company’s Public Float (as that term is defined in the policies of the Toronto Stock Exchange (the “Exchange”)) as at March 13, 2024, through the facilities of the Exchange or through alternative Canadian trading systems by a registered investment dealer.

The AI legalese decoder can assist in decoding complex legal jargon and making it easier to understand the terms and conditions of the Company’s Bid. This tool can help investors comprehend the implications of the Bid and make informed decisions.

Timing and Details of the Bid

The Bid, which will begin on March 18, 2024 and end no later than March 17, 2025, has been approved by the Company’s board of directors (the “Board”) and by the Exchange. It will be made in accordance with the applicable rules and policies of the Exchange, and applicable Canadian securities laws. Under the Bid, Shares may be repurchased in open market transactions on the Exchange and/or alternative Canadian trading systems, or by such other means as may be permitted by the Exchange and applicable Canadian securities laws. The price which the Company will pay for any such Shares will be the prevailing market price at the time of purchase.

The AI legalese decoder can help investors understand the specific rules and policies governing the Bid, ensuring compliance with all legal requirements.

Automatic Securities Purchase Plan

The Company has entered into an automatic securities purchase plan (the “ASPP”) with CIBC World Markets Inc. (the “Broker”) to allow for the repurchase of Shares at times when the Company ordinarily would not be active in the market due to its own internal trading blackout periods, insider trading rules or otherwise. The ASPP provides a set of standard instructions to the Broker to make purchases under the NCIB in accordance with the limits and other terms set out in the ASPP.

By using the AI legalese decoder, investors can easily navigate the complexities of automatic securities purchase plans and understand how they impact the Company’s repurchase of Shares.

Benefits of the Bid

The Board believes the Bid will provide the Company with a flexible mechanism for managing and balancing its capital structure over the next 12 months and returning excess cash to shareholders. By participating in the Bid, shareholders have the opportunity to sell their Shares and increase their equity interest in the Company when the repurchased Shares are cancelled.

The AI legalese decoder can help shareholders assess the benefits and risks associated with participating in the Bid, facilitating informed decision-making.

About Wall Financial Corporation

Wall Financial Corporation is a B.C. based real estate company active in the development and management of residential and commercial rental units, development and construction of residential housing for resale, and the development and management of hotel properties.

Forward Looking Information: This news release contains forward-looking information regarding the terms under which the NCIB and ASPP will be operated. All such forward-looking statements are made pursuant to the ‘safe harbour’ provisions of applicable Canadian securities laws.

Investors can use the AI legalese decoder to gain insights into the Company’s future plans and strategies, enabling them to make informed investment decisions.

Conclusion

The renewal of Wall Financial Corporation’s normal course issuer bid presents opportunities for both the Company and its shareholders. By leveraging tools like the AI legalese decoder, investors can navigate the legal complexities surrounding the Bid and make well-informed decisions that align with their investment goals.

For more information, shareholders can contact the Company’s President, Bruno Wall.

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