EcoSynthetix Inc. announces an Equity Buyback for 3,998,133 shares, representing 6.99% of its issued share capital.
May 11, 2021 at 07:16 am EDT
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EcoSynthetix Inc. (TSX:ECO) announces a share repurchase program. Under the normal course issuer bid, the company will repurchase up to 3,998,133 shares, representing 6.99% of its issued share capital. The share repurchases will be cancelled. The bid is valid till May 12, 2022. As of April 30, 2021, the company had 57,208,189 shares in issued and outstanding.
EcoSynthetix Inc. is a Canada-based renewable chemicals company that specializes in biomaterials used in a variety of end products. The Company offers a range of sustainable engineered biopolymers that allow customers to reduce their use of harmful materials, such as formaldehyde and styrene-based chemicals. It is engaged in the development and commercialization of environmentally friendly, bio-based technologies as replacement solutions for synthetic, petrochemical-based adhesives and other related products in the Americas, Europe, Middle East and Africa (EMEA), and Asia Pacific. It operates in one segment: the biopolymer nanosphere technology platform. The Company's products include EcoSphere biopolymers, EcoMer biomonomers, EcoStix bio-based pressure-sensitive adhesives, and DuraBind bioresins. The DuraBind and EcoSphere, are used to manufacture wood composites, paper, and packaging. Its serves to the markets, such as paper and paperboard, building materials, and other markets.
ECOSYNTHETIX INC. 
