Castle Brands Board (ROX)

[FUNMAN]

How will Castle Brands' stock buyback program work?

I sent this e-mail to ROX tonight:

Can you confirm or deny the truthfulness of this information published at the MarketBeat link below:

How will Castle Brands' stock buyback program work?
Castle Brands declared that its board has authorized a share repurchase plan on Wednesday, November 15th 2017, which permits the company to repurchase 2,500,000 shares, according to EventVestor. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company's board of directors believes its stock is undervalued.

https://www.marketbeat.com/stocks/NYSEAMERICAN/ROX/

I really wish I could find some confirming information about this on the ROX website. It seems like such a stupid use of cash.

Until I see an announcement directly from ROX, I won't believe it.