Voyager Digital Ltd. ('Voyager' or the 'Company') (TSX: VOYG) (OTCQX: VYGVF) (FRA: UCD2), a publicly traded cryptocurrency platform in the United States, announced that it has provided the Toronto Stock Exchange (the 'TSX') its notice to commence a normal course issuer bid ('NCIB'), subject to approval by the TSX.
The notice provides that Voyager may, during the 12 month period commencing November 2, 2021 and ending November 1, 2022, purchase on the TSX up to 8,114,699 common shares in total, being approximately 5% of the outstanding common shares. The price which Voyager will pay for any such shares will be the market price at the time of purchase in accordance with regulatory requirements. The actual number of common shares which may be purchased pursuant to the NCIB and the timing of any purchases will be determined by management of Voyager. All common shares purchased pursuant to the NCIB will be purchased for cancellation, and all such purchases will be made on the open market through the facilities of the TSX and on alternative trading systems in Canada. The NCIB will be conducted through Eight Capital, a member of the TSX.
As at the close of business on October 27, 2021, there were 162,293,997 common shares issued and outstanding.
The daily average trading volume for Voyager's common shares over the last period from September 7, 2021 and October 27, 2021 is 472,413 common shares (the 'ADTV'). Accordingly, under TSX rules and policies, Voyager is entitled on any trading day to purchase up to 118,103 common shares. Pursuant to TSX policies, the maximum number of Shares that may be purchased in one day pursuant to the NCIB through their facilities will be 25% of TSX ADTV, subject to certain prescribed exceptions.
Voyager had previously adopted an NCIB with the Canadian Securities Exchange (the 'CSE'), which entered into effect on May 30, 2021. A total of 247,500 shares were acquired through the CSE, at a volume weighted average purchase price of $18.93 per share. These shares were cancelled on July 12, 2021. Voyager delisted its shares on the CSE on September 3, 2021 and began trading on the TSX on September 7, 2021.
Voyager believes that its common shares have been trading in a price range which does not adequately reflect the value of such shares in relation to the business of Voyager and its future business prospects. As a result, depending upon future price movements and other factors, Voyager may determine that, at appropriate times, repurchasing common shares through the NCIB represents a good use of Voyager's financial resources. Furthermore, the purchases are expected to benefit all persons who continue to hold common shares by increasing their equity interest in the Company.
About Voyager Digital Ltd.
Voyager Digital Ltd. (TSX: VOYG; OTCQX: VYGVF; FRA: UCD2) is a fast-growing, publicly traded cryptocurrency platform in the United States founded in 2018 to bring choice, transparency, and cost efficiency to the marketplace. Voyager offers a secure way to trade over 60 different crypto assets using its easy-to-use mobile application, and earn rewards up to 12 percent annually on more than 30 cryptocurrencies. Through its subsidiary Coinify ApS, Voyager provides crypto payment solutions for both consumers and merchants around the globe. To learn more about the company, please visit https://www.investvoyager.com.
Contact:
Press
Voyager Digital, Ltd.
Michael Legg
Chief Communications Officer
T: (212) 547-8807
E: mlegg@investvoyager.com
VOYAGER DIGITAL LTD. 
