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8-K - CURRENT REPORT - ISSUER DIRECT CORP | isdr_8k.htm |
Exhibit 99.1
Issuer Direct Increases Its Share Repurchase Program
RALEIGH, NC / ACCESSWIRE / March 16, 2020
/ Issuer Direct
Corporation (NYSE
American: ISDR) (“Issuer Direct” or the "Company"),
an industry-leading communications
and compliance company, today announced that its Board of
Directors has increased the previously announced share repurchase
program. Issuer Direct may now repurchase up to $2 million of its
common shares.
“The increase to our repurchase program demonstrates the
Board of Directors and management team’s confidence in our
long term business and our commitment to providing value to our
shareholders,” stated Brian R. Balbirnie, Chief Executive
Officer. “Our solid balance sheet and recurring cash flow
from operations enables us to continue this repurchase program
while continuing to invest in opportunities that will fuel
long-term growth.”
Under this share repurchase program, Issuer Direct may repurchase
shares in accordance with all applicable securities laws and
regulations, including Rule 10b-18 of the Securities Exchange Act
of 1934, as amended. The extent and timing of repurchases, if any,
will depend upon a variety of factors, including market conditions,
regulatory requirements and other corporate considerations as
determined by the Company’s management. The repurchase
program may be extended, suspended, or discontinued at any time.
The Company expects to fund the repurchase program from its
existing cash flows from operations. The Company had 3,793,400
shares of common stock outstanding as of March 13, 2020. As of
March 13, 2020, the Company has previously repurchased 79,070
shares of common stock for approximately $800,000.
About Issuer Direct Corporation
Issuer Direct® is an industry-leading communications and
compliance company focusing on the needs of corporate issuers.
Issuer Direct's principal platform, Platform id.™, empowers
users by thoughtfully integrating the most relevant tools,
technologies, and services, thus eliminating the complexity
associated with producing and distributing financial and business
communications. Headquartered in Raleigh, NC, Issuer Direct serves
thousands of public and private companies globally. For more
information, please visit www.issuerdirect.com.
Forward-Looking Statements
This press release contains ''forward-looking statements'' within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended (the ''Exchange Act'') (which Sections were adopted as part
of the Private Securities Litigation Reform Act of 1995).
Statements preceded by, followed by or that otherwise include the
words ''believe,'' ''anticipate,'' ''estimate,'' ''expect,''
''intend,'' ''plan,'' ''project,'' ''prospects,'' ''outlook,'' and
similar words or expressions, or future or conditional verbs such
as ''will,'' ''should,'' ''would,'' ''may,'' and ''could'' are
generally forward-looking in nature and not historical facts. These
forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause the Company's
actual results, performance or achievements to be materially
different from any anticipated results, performance or
achievements. The Company disclaims any intention to and undertakes
no obligation to revise any forward-looking statements, whether as
a result of new information, a future event, or otherwise. For
additional risks and uncertainties that could impact the Company's
forward-looking statements, please see the Company's Annual Report
on Form 10-K for the year ended December 31, 2019, including but
not limited to the discussion under ''Risk Factors'' therein, which
the Company with the SEC and which may be viewed
at http://www.sec.gov/.
CONTACT:
For
Further Information:
Issuer Direct Corporation
Brian
R. Balbirnie
919-481-4000
brian.balbirnie@issuerdirect.com
Hayden
IR
Brett
Maas
(646)
536-7331
brett@haydenir.com
Hayden
IR
James
Carbonara
(646)-755-7412
james@haydenir.com
SOURCE: Issuer Direct
Corporation