NCIB
Parex believes that the Common Shares have been trading in a price range which does not adequately reflect their value in relation to the Company's current operations and its growth prospects, and that, at such times, the purchase of Common Shares for cancellation will increase the proportionate interest of, and be advantageous to, all remaining shareholders. As of the close of business on January 10, 2025, the Company had 98,339,036 Common Shares issued and outstanding and a public float of 86,213,488 Common Shares.
Under a previous notice of intention to conduct a normal course issuer bid, the Company sought and received approval of the TSX to purchase 10,198,838 Common Shares for the period from January 22, 2024, to January 21, 2025. From January 22, 2024, to January 10, 2025, the Company purchased 5,524,850 Common Shares on the open market at a weighted-average price of $18.026 per Common Share
Further, the Company has entered into an automatic share purchase plan with Peters and Co. in order to facilitate repurchases of its Common Shares. Under the Company's automatic share purchase plan