CANTON Strategic Holdings approves $50M share repurchase program

Canton Strategic Holdings, Inc. (NASDAQ: CNTN) said its board of directors has authorized a share repurchase program allowing the company to buy back up to $50 million of its common stock.

Under the program, the company may repurchase shares on the open market or through other means, in accordance with Rule 10b-18 of the Securities Exchange Act of 1934. The timing, amount, and method of repurchases will be determined by management based on market conditions, share price, trading volume, capital requirements, and regulatory considerations.

The program does not obligate the company to repurchase any specific number of shares and may be modified, suspended, or terminated at any time at the board's discretion.

"This share repurchase program directly reflects our confidence in the strength of our platform and our ability to drive long-term value for shareholders," said Mark Wendland, Chairman and CEO of Canton Strategic Holdings.

According to a press release statement, Canton Strategic Holdings describes itself as a company involved in Canton Coin and the Canton Network, a blockchain platform aimed at institutional adoption, as well as clinical-stage biotech research and development. The company notes that Canton is a registered trademark of Digital Asset (Switzerland) GmbH, which is not affiliated with Canton Strategic Holdings.

You May Also Be Interested In

• Selectis Health agrees to $5.75-per-share cash buyout by Black Pearl
• Worthington Enterprises raises dividend 5%, adds board member
• Airship AI wins $1.9M follow-on contract with Fortune 100 client