TORONTO, Nov. 18, 2021 (GLOBE NEWSWIRE) -- Guardian Capital Group Limited (“Guardian”) (TSX:GCG) (TSX:GCG.A) announced today that it has received approval from the Toronto Stock Exchange (“TSX”) for its Normal Course Issuer Bid, pursuant to which it intends to purchase, during the period from November 23, 2021 to November 22, 2022, up to 137,469 or 5% of its outstanding Common Shares, entitled to one vote per share, and up to 1,706,357 or 10% of its public float of Non-Voting Class A Shares (“Class A Shares”) as at November 9, 2021. Shares may also be purchased by the trustee (the “Trustee”) for Guardian’s employee profit sharing plan. In each case, these shares will be purchased at market prices, on the TSX and alternative Canadian trading systems. All shares purchased by Guardian (but not those purchased by the Trustee) will be cancelled. Guardian intends to purchase the shares because it believes that, from time to time, the shares may become undervalued at prevailing market prices, based on Guardian’s earnings and prospects and accordingly, Guardian is of the opinion that the purchase of shares is an appropriate use of corporate funds to increase shareholder value.