TORONTO, Aug. 22, 2024 /CNW/ - (TSX: CGX) – Cineplex Inc. ("Cineplex" or the "Company"), Canada's leading entertainment and media company, announced today that the Toronto Stock Exchange has accepted its notice of intention to make a normal course issuer bid ("NCIB") for its common shares ("Shares").

Pursuant to the notice, Cineplex proposes to purchase, as opportunities arise from time to time over the next 12 months, up to 6,318,345 Shares, being equal to 10% of its public float of 63,183,455 Shares issued and outstanding as of August 20, 2024. As of August 20, 2024, there were a total of 63,684,281 Shares outstanding. Purchases under the NCIB will be made through the facilities of the Toronto Stock Exchange or through alternative Canadian trading systems and in accordance with applicable regulatory requirements at a price per Share equal to the market price at the time of acquisition. The number of Shares that can be purchased pursuant to the NCIB is subject to a current daily maximum of 99,642 Shares (which is equal to 25% of 398,570 Shares, being the average daily trading volume during the six months ended July 31, 2024), in each case subject to Cineplex's ability to make one block purchase of Shares per calendar week that exceeds such limits. All purchases of Shares under the NCIB will be made by the Company in accordance with the requirements of the Toronto Stock Exchange and an alternative Canadian trading system.