NCIB $1.20 to $1.55
Calibre Mining to buy back up to 33.15 million shares
2023-10-19 10:07 ET - News Release
Mr. Darren Hall reports
CALIBRE MINING ANNOUNCES NORMAL COURSE ISSUER BID
Calibre Mining Corp. intends to make a normal course issuer bid (NCIB) to repurchase, on the open market through the facilities of the Toronto Stock Exchange, other designated exchanges and/or alternative Canadian trading systems, or by such other means as may be permitted by applicable Canadian securities laws, certain of its outstanding common shares.
Darren Hall, president and chief executive officer of Calibre, stated: "After investment, we continue to grow our cash position which, at Sept. 30, 2023, was $97-million (U.S.), a 72-per-cent increase this year. Given our robust cash position, we will review the opportunity over the next 12 months to purchase up to 10 per cent of our public float. We believe that the purchase of Calibre common shares under the NCIB is a responsible use of available cash and in the best interests of the company, since the market prices, from time to time, may not reflect the value of the Calibre's business. We have continually delivered stakeholder value, delivering organic growth across the business resulting in a strong balance sheet from operating cash flow, and we will continue to increase shareholder value as we continue to reinvest in our assets and deliver on our commitments."