CI Financial Corp. (TSX:CIX) announces a share repurchase program. Under the substantial issuer bid, the company will repurchase up to $100 million worth of its outstanding shares.

The shares will be tendered at a price of not less than $13.64 per share and not more than $15.28 per share. The shares purchased under the offer will be cancelled. If the aggregate cost to purchase the tendered shares exceeds $100 million, the company will accept such shares on a pro-rata basis after giving effect to ?odd lot?

tenders, which will not be subject to pro-ration. The bid will expire on December 18, 2023, unless extended or withdrawn. As of November 9, 2023, the company had 162,784,729 shares in issue.