Chorus Aviation announces substantial issuer bid for purchase price not exceeding $50M of its shares

* Chorus Aviation (TSX:CHR:CA [https://seekingalpha.com/symbol/CHR:CA]) announced on Monday a substantial issuer bid pursuant to which the company will offer to purchase up to $50M in value of its Class A Variable Voting Shares and Class B Voting Shares from holders at a cash purchase price of not less than $23 and not more than $25 per share.
* Promptly following the expiration date, the company will determine a single price per share that it will pay for shares validly deposited pursuant to the offer and not withdrawn.
* For the purpose of determining the purchase price, shares deposited pursuant to a Purchase Price Tender will be deemed to have been deposited at a price of $23.00 per share.
* The purchase price will be the lowest price per share that enables the company to purchase the maximum number of shares validly deposited and not properly withdrawn pursuant to the offer having an aggregate purchase price not to exceed $50 million.

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* Historical earnings data for Chorus Aviation [https://seekingalpha.com/symbol/CHR:CA/earnings]
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