Champignon Brands (CSE: SHRM), a wellness company specializing in medicinal mushroom and mushroom-infused products, today announced its intent to commence a normal course issuer bid (“NCIB”) to purchase up to a total of 2,411,883 common shares, representing 5% percent of the issued and outstanding common shares of the company as of March 20, 2020. Per the news release, Champignon believes that current market conditions have resulted in its shares being undervalued relative to the immediate and long-term value of its vertically integrated portfolio of alternative medicine products. Pursuant to the NCIB, the company may purchase the common shares through the facilities of the Canadian Securities Exchange (“CSE”) and/or alternative trading systems, at various times over the next 12 months if considered advisable. Purchases may commence through the CSE and/or alternative trading systems on March 27, 2020 and will conclude on either the date on which purchases under the bid have been completed or on March 27, 2021, whichever comes first. All common shares purchased by the company will be cancelled. The company appointed PI Financial Corp. to coordinate and facilitate its NCIB purchases.
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About Champignon Brands Inc.
Champignon Brands Inc. (CSE: SHRM) is a Canada-based company dedicated to the distribution of artisanal medicinal mushrooms infused products. The Champignon team is mandated with enhancing the health and wellness of millions of potential consumers through the distribution of a premium, mushroom-infused product suite. Champignon continues to be inspired by sustainability, as all of its eligible SKUs are organic, non-GMO and vegan certified. For more information, visit the company’s website at www.Champignonbrands.com.
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