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The latest announcement is out from Cematrix ( (TSE:CEMX) ).
CEMATRIX Corporation announced that the Toronto Stock Exchange has accepted its intention to implement a normal course issuer bid (NCIB), allowing the company to purchase up to 10% of its public float for cancellation. This move is part of CEMATRIX’s strategy to enhance long-term shareholder value by capitalizing on potential market undervaluation of its shares. The NCIB will be conducted through the TSX and alternative trading systems in Canada, with an automatic share purchase plan in place to facilitate purchases during blackout periods.
More about Cematrix
CEMATRIX is a specialty construction contractor that produces cellular concrete solutions on site. The company is a leading manufacturer and supplier of cellular concrete in North America, offering cost-effective and innovative solutions for geotechnical construction challenges. Their applications include lightweight engineered fill, insulating road subbase, and tunnel backfills, among others. CEMATRIX is an early-stage growth company with significant revenue, positive EBITDA, and a strong financial standing. It operates through subsidiaries in Canada and the USA.
YTD Price Performance: -26.92%
Average Trading Volume: 202,891
Technical Sentiment Signal: Buy
Current Market Cap: C$28.59M
For a thorough assessment of CEMX stock, go to TipRanks’ Stock Analysis page.