RE:May 26From the company's most recent MD&A posted on sedar
Normal Course Issuer Bid
On October 19, 2020, the Company announced the approval of its normal course issuer bid (“NCIB”) by the TSX Venture Exchange (“TSXV”). This NCIB commenced on October 22, 2020 and allows the Company to purchase up to 10,918,104 common shares over a period of 12 months, but no more than 2,228,195 shares in any 30-day period. Purchases are made on the open market through the TSXV by Cormark Securities Inc. at the market price of such common shares at the time of acquisition.
The Company believes that, from time to time, the market price of its common shares may be attractive and their purchase would represent a prudent allocation of capital. As of the date of this report, the Company has not yet purchased or cancelled any common shares under the NCIB, but has placed bids on numerous occasions while not in blackout.