Company has repurchased a total of 254,456 shares year to date
Vancouver, British Columbia, October 5, 2023 – Mogo Inc. (NASDAQ:MOGO) (TSX:MOGO) (“Mogo” or the “Company”), one of Canada’s leading financial technology companies, today announced that, during the three months ended September 30, 2023, the Company repurchased and cancelled 134,502 shares under its common share buyback program on NASDAQ and its normal course issuer bid on the Toronto Stock Exchange (the “TSX”), which was implemented in August 2023. For the fiscal year to date, the Company has repurchased 254,456 shares under both buyback programs. The Company currently has 24.7 million common shares issued and outstanding.
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Mogo is repurchasing common shares under the buyback programs because it continues to believe that the market price of its common shares does not accurately reflect their underlying value and the repurchasing for cancellation of such common shares is intended to enhance long-term shareholder value.
All common share amounts and prices referred to in this press release have been adjusted to reflect the Company's 3:1 share consolidation that was implemented in August 2023.
Mogo, one of Canada’s leading digital finance companies, is empowering its members with simple digital solutions to help them build wealth and achieve financial freedom. Mogo’s trade app, MogoTrade, offers commission-free stock trading that helps users make a positive impact with every investment and together with Moka, Mogo’s wholly-owned subsidiary bringing automated, fully-managed flat-fee investing to Canadians, forms the heart of Mogo’s digital wealth platform. Mogo also offers digital loans and mortgages. Through Mogo’s wholly-owned subsidiary, Carta Worldwide, we also offer a digital payments platform that powers the next-generation card programs from innovative fintech companies in Europe and Canada. To learn more, please visit mogo.ca or download the mobile app (iOS or Android).
For further information:
US Investor Relations Contact
Lytham Partners, LLC
New York | Phoenix