Brief: VerifyMe Announces Spac Liquidation And Initiates New Share Repurchase Program

VerifyMe

01/07/2022 13:34

July 1 (Reuters) - VerifyMe Inc  VRME.O :
    * VERIFYME ANNOUNCES SPAC LIQUIDATION AND INITIATES NEW
SHARE
REPURCHASE PROGRAM
    * VERIFYME - BOARD APPROVED $1.5 MILLION SHARE REPURCHASE
PROGRAM
TO REPURCHASE SHARES OF CO'S COMMON STOCK COMMENCING JULY 1,
2022, FOR PERIOD OF 12 MONTHS
    * VERIFYME INC - MADE DECISION NOT TO EXTEND PERIOD FOR SPAC
TO
CONSUMMATE A BUSINESS COMBINATION
    * VERIFYME INC - SPAC IS EXPECTED TO DISSOLVE AND LIQUIDATE
IN
ACCORDANCE WITH ITS CHARTER
    * VERIFYME - NEW REPURCHASE PROGRAM REPLACES EXISTING SHARE
REPURCHASE PROGRAM THAT WAS DUE TO EXPIRE IN AUGUST 2022 AND IS
NOW TERMINATED
    * VERIFYME INC - AS A RESULT OF CURRENT MARKET CONDITIONS,
BOARD
DETERMINED IT WAS NOT IN BEST INTERESTS OF CO TO ALLOCATE
ADDITIONAL FINANCIAL CAPITAL
    * VERIFYME INC - ELECTED TO NOT EXTEND PERIOD FOR G3 VRM
ACQUISITION CORP

Source text for Eikon:  ID:nPn7n8p8ga 
Further company coverage:  VRME.O