Centerra Gold Announces TSX Acceptance of Renewed Normal Course Issuer Bid

Rhea-AI Summary

Centerra Gold (TSX: CG, NYSE: CGAU) announced TSX acceptance of a renewed normal course issuer bid to purchase for cancellation up to 20,129,230 common shares from November 10, 2025 to November 9, 2026. The amount equals approximately 9.9% of 201,768,421 issued and outstanding shares as of October 31, 2025, with a daily purchase limit of 269,104 shares except for block exemptions. The prior NCIB (expired November 6, 2025) authorized 18,800,929 shares; under it the company bought 9,613,246 shares at a VWAP of $9.68. Centerra plans an automatic share purchase plan to enable purchases during blackout periods and says the NCIB is a flexible tool to allocate a portion of its cash while maintaining a robust balance sheet.

Positive

• NCIB authorized to buy up to 20,129,230 common shares (≈9.9%)
• Represents a >5% capital action likely material to shareholders
• Previous NCIB purchases of 9,613,246 shares at a VWAP of $9.68
• Automatic share purchase plan allows buys during blackout periods

Negative

• Buyback uses a portion of the company’s cash balance, reducing liquidity available for other uses
• Daily limit of 269,104 shares may slow execution of larger purchases

Insights

Capital Allocation Analyst

Centerra renewed a sizeable NCIB allowing up to 9.9% of shares to be bought for cancellation between Nov. 10, 2025 and Nov. 9, 2026.

Centerra can repurchase up to 20,129,230 common shares, with a daily limit of 269,104 shares and prior NCIB purchases totaling 9,613,246 shares at a VWAP of $9.68. Share cancellation reduces outstanding supply and acts as a cash-return mechanism inside the company’s capital allocation framework. The company will use an automatic purchase plan to trade during otherwise restricted windows.

Execution depends on available cash, market liquidity and compliance with trading rules; purchases are discretionary and may be suspended. Key risks include using cash that might otherwise fund operations or projects and potential timing mismatch if market prices rise. Monitor the aggregate purchased shares versus the 20,129,230 cap, the pace of purchases under the automatic plan, and any disclosures of cash use in the next 12 months ending Nov. 9, 2026.

TORONTO, Nov. 05, 2025 (GLOBE NEWSWIRE) -- Centerra Gold Inc. (TSX: CG) (NYSE: CGAU) (“Centerra” or the “Company”) is pleased to announce that the Toronto Stock Exchange (“TSX”) has accepted its renewal of a normal course issuer bid (“NCIB”) to purchase for cancellation up to 20,129,230 common shares of Centerra (“Common Shares”) during the twelve-month period commencing on November 10, 2025 and ending on November 9, 2026. This represents approximately 9.9% of Centerra’s 201,768,421 total issued and outstanding Common Shares, as at October 31, 2025 or 10% of the public float.

Under the NCIB, daily purchases would be limited to 269,104 Common Shares, other than purchases made under block purchase exemptions. Following activation of the NCIB, the exact timing and amount of any purchases will depend on market conditions and other factors. Centerra is under no obligation to purchase any Common Shares and may, at its discretion, suspend or discontinue purchases under the NCIB at any time. Any purchases made under the NCIB will be made at market price at the time of purchase through the facilities of the TSX and/or alternative Canadian trading systems in compliance with applicable securities legislation and stock exchange rules. The Company’s previous NCIB authorized the purchase of up to 18,800,929 Common Shares and expired on November 6, 2025. As of October 31, 2025, a total of 9,613,246 Common Shares were purchased through the facilities of the TSX and alternative Canadian trading systems at a volume weighted average price of $9.68 per Common Share under the Company’s previous NCIB.

In connection with the renewed NCIB, Centerra intends to establish an automatic share purchase plan based on Company instructions provided to the designated broker to facilitate the purchase of Common Shares during times when the Company would ordinarily be restricted from doing so due to regulatory restrictions or self-imposed black-out periods. Centerra may, but is not required to, instruct its designated broker to make purchases under the NCIB based on parameters set by Centerra in accordance with the automatic share purchase plan, applicable securities laws and stock exchange rules.

Centerra believes that its Common Shares continue to trade within a price range which does not fully reflect the underlying value the Company’s assets or it’s future prospects. As a result, Centerra views the NCIB as a flexible tool to allocate a portion of its cash balance within its capital allocation framework to enable the Company to purchase Common Shares for cancellation while maintaining a robust balance sheet.

About Centerra Gold

Centerra Gold Inc. is a Canadian-based gold mining company focused on operating, developing, exploring and acquiring gold and copper properties in North America, Türkiye, and other markets worldwide. Centerra operates two mines: the Mount Milligan Mine in British Columbia, Canada, and the Öksüt Mine in Türkiye. The Company also owns the Kemess Project in British Columbia, Canada, the Goldfield Project in Nevada, United States, and owns and operates the Molybdenum Business Unit in the United States and Canada. Centerra’s shares trade on the Toronto Stock Exchange (“TSX”) under the symbol CG and on the New York Stock Exchange (“NYSE”) under the symbol CGAU. The Company is based in Toronto, Ontario, Canada.

For more information:

Lisa Wilkinson
Vice President, Investor Relations & Corporate Communications
(416) 204-3780
Lisa.Wilkinson@centerragold.com

Additional information on Centerra is available on the Company’s website at www.centerragold.com, on SEDAR+ at www.sedarplus.ca and EDGAR at www.sec.gov/edgar.

Cautionary Note Regarding Forward-Looking Information

Information contained in this document which are not statements of historical facts may be “forward looking information” for the purposes of Canadian securities laws and within the meaning of the United States Private Securities Litigation Reform Act of 1995. Such forward-looking information involves risks, uncertainties and other factors that could cause actual results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward looking information. The words “expect”, “contemplate”, “may”, “will”, “intend” and similar expressions identify forward-looking information. In particular, such forward-looking statements include, but are not limited to, statements relating to the TSX’s approval of the NCIB, Centerra’s intention to renew the NCIB and the timing, methods and quantity of any purchases of Common Shares under the NCIB, the availability of cash for purchases of Common Shares under the NCIB, compliance with applicable laws and regulations pertaining to the NCIB, Centerra’s perceptions of historical trends, current conditions and expected future developments, as well as other considerations that are believed to be appropriate in the circumstances.

Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable by Centerra, are inherently subject to significant political, business, technical, economic and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking information. Factors and assumptions that could cause actual results or events to differ materially from current expectations include the risk factors set forth in the section titled “Risk Factors” in the Company’s most recently filed Annual Information Form, which is available on SEDAR+ at www.sedarplus.com and EDGAR at www.sec.gov/edgar. There can be no assurances that forward-looking information and statements will prove to be accurate, as many factors and future events, both known and unknown could cause actual results, performance or achievements to vary or differ materially from the results, performance or achievements that are or may be expressed or implied by the forward-looking statements contained or referred to herein. Accordingly, all such factors should be considered carefully when making decisions with respect to Centerra, and prospective investors should not place undue reliance on forward looking information. Forward-looking information contained herein is given as of the date of this press release. Centerra assumes no obligation to update or revise forward-looking information to reflect changes in assumptions, changes in circumstances or any other events affecting such forward-looking information, except as required by applicable law.

FAQ

What does Centerra's NCIB for 20,129,230 shares (CGAU) mean for shareholders?

It authorizes the company to repurchase up to 20,129,230 shares (≈9.9%) from Nov 10, 2025 to Nov 9, 2026, potentially reducing share count and supporting EPS.

When does Centerra's renewed NCIB (CGAU) start and end?

The NCIB runs from November 10, 2025 through November 9, 2026.

How many shares can Centerra (CGAU) buy per day under the NCIB?

Daily purchases are limited to 269,104 common shares, except for block purchase exemptions.

How many shares did Centerra buy under its previous NCIB and at what price?

Under the prior NCIB Centerra purchased 9,613,246 shares at a volume-weighted average price of $9.68 per share as of Oct 31, 2025.

Will Centerra (CGAU) use an automatic plan to execute buybacks during blackouts?

Yes, Centerra intends to establish an automatic share purchase plan to enable purchases during regulatory or self-imposed blackout periods.

Does Centerra have to buy shares under the NCIB (CGAU)?

No, the company is not obligated to make purchases and may suspend or discontinue the NCIB at any time.