VANCOUVER, Aug. 21, 2018 /CNW/ - Destiny Media Technologies,
Inc. (TSXV: DSY) (OTCQX: DSNY) (the 'Company"), the makers of Play
MPE®, a cloud-based SaaS solution for promotional music marketing,
today announced that the board of directors has authorized a
program to repurchase up to 10 million shares of the Company's
common stock at a maximum share purchase price of $0.20 per share through open market transactions,
privately negotiated transactions or otherwise in accordance with
all applicable laws. The timing, amount and other terms and
conditions of any repurchases will be determined by the Company's
management at its discretion based on a variety of factors,
including the market price of the Company's common stock, corporate
considerations, general market and economic conditions and legal
requirements. The board approved stock repurchase program
runs through August 31, 2019. In
addition to applicable securities laws, the company will not make
any purchases during a time at which its insiders are subject to a
blackout from trading in the Company's common stock.
About Destiny Media Technologies, Inc.
Destiny Media Technologies provides software as service (SaaS)
solutions to businesses in the music industry solving critical
problems in distribution and promotion. The core service, Play MPE®
(www.plaympe.com), provides promotional music marketing to engaged
networks of decision makers in radio, film, TV, and beyond.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended (the "Securities Act"), and Section 21E of the Securities
Exchange Act of 1934, as amended (the "Exchange Act"). Such
forward-looking statements involve risks and uncertainties. Any
statements contained herein that are not statements of historical
facts may be deemed to be forward-looking statements. In some, but
not all, cases, you can identify forward-looking statements by
terminology such as "may", "will", "should", "expect", "plan",
"intend", "anticipate", "believe", "estimate", "predict",
"potential" or "continue", the negative of such terms or other
comparable terminology. Actual events or results may differ
materially. In evaluating these statements, you should consider
various factors, including the risks outlined in the "Risk Factors"
section and elsewhere in the Company's most recent Annual Report on
Form 10-K, which may be updated by periodic or other reports filed
by the Company with the SEC subsequent to such Form 10-K. These
factors may cause the Company's actual results to differ materially
from any forward-looking statements. Forward-looking statements
contained in this press release only speak as of the date on which
they were made and, except as may be required by applicable
securities laws, the Company disclaims any obligation to publicly
update these statements, or disclose any difference between its
actual results and those reflected in these statements.
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SOURCE Destiny Media Technologies, Inc.