Polaris Renewable Energy Announces Renewal of Normal Course Issuer Bid
Rhea-AI Summary
Polaris Renewable Energy (TSX:PIF, OTC:RAMPF) received Toronto Stock Exchange approval to renew its normal course issuer bid, allowing the purchase of up to 2,021,205 common shares, or about 10% of its 20,212,059-share public float, from August 27, 2026 to August 26, 2027. The board has initially limited repurchases to 176,872 shares. As of August 13, 2026, Polaris had 20,895,285 shares outstanding. Daily purchases on the TSX are capped at 10,972 shares, roughly 25% of the six‑month average daily trading volume of 43,888 shares. Under the current NCIB (August 25, 2025–August 24, 2026), the company repurchased 134,050 shares at a weighted-average price of $12.04. Purchased shares will be cancelled. Polaris also entered into a TSX‑approved automatic share purchase plan, effective August 27, 2026, enabling buybacks during blackout periods.
Positive
- New NCIB authorization for up to 2,021,205 shares (10% of public float)
- Initial repurchase cap of 176,872 shares set by the board
- Daily TSX limit of 10,972 shares, tied to recent trading volume
- Prior NCIB activity: 134,050 shares repurchased at $12.04 average price
- Automatic share purchase plan in place to allow blackout-period buybacks
Negative
- Company explicitly notes no assurance that any NCIB purchases will occur
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TORONTO, ON / ACCESS Newswire / August 25, 2026 / Polaris Renewable Energy Inc. (TSX:PIF) ("Polaris" or the "Company") today announced that the Toronto Stock Exchange ("TSX") has accepted its notice of intention to renew its normal course issuer bid ("NCIB").
The Company's Board of Directors believes that an NCIB represents an appropriate and desirable use of its available free cash to increase shareholder value and is in the best interest of the Company and its shareholders.
Pursuant to the notice, Polaris may purchase up to 2,021,205 of its common shares ("Shares"), representing approximately
Under the Company's current NCIB, the Company sought and obtained approval to purchase up to 2,029,745 Shares from August 25, 2025 to August 24, 2026. As at August 13, 2026, the Company repurchased an aggregate of 134,050 Shares at a weighted-average price of
Although the Company intends to purchase Shares under its NCIB, there can be no assurances that any such purchases will be completed. Any purchases made under the NCIB will be made by the Company at the prevailing market price at the time of acquisition and by means of open market transactions through the facilities of the TSX and alternative Canadian trading systems on which the Shares trade from time to time.
The Company has entered into an automatic share purchase plan ("ASPP") with a designated broker, to allow for purchases by the Company of Shares during certain pre-determined blackout periods, subject to certain parameters. The ASPP constitutes an "automatic securities purchase plan" under applicable Canadian securities laws, has been approved by the TSX and will be implemented effective August 27, 2026.
About Polaris Renewable Energy Inc.
Polaris Renewable Energy Inc. is a Canadian publicly traded company engaged in the acquisition, development, and operation of renewable energy projects in Latin America & the Caribbean. We are a high-performing and financially sound contributor to the energy transition.
The Company's operations include a geothermal plant (~82 MW), four run-of river hydroelectric plants (~39 MW), three solar (photovoltaic) projects in operation (~35 MW) and an onshore wind park (~26 MW).
For more information, contact:
Investor Relations
Polaris Renewable Energy Inc.
Phone: +1 647-245-7199
Email: info@PolarisREI.com
Cautionary Statements
This press release contains certain "forward-looking information" which may include, but is not limited to, statements with respect to future events or future performance, management's expectations regarding the timing and amount of purchases of Shares, if any, made under the NCIB, as well as the benefits of such purchases, including providing flexibility to the Company in managing its capital position. Such forward-looking information reflects management's current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "predicts", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. Such factors include, among others, general business, economic, competitive, political and social uncertainties; the actual results of current geothermal, solar and hydro energy production, development and/or exploration activities and the accuracy of probability simulations prepared to predict prospective geothermal resources; changes in project parameters as plans continue to be refined; possible variations of production rates; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the geothermal and hydro power industries; political instability or insurrection or war; labour force availability and turnover; delays in obtaining governmental approvals or in the completion of development or construction activities, or in the commencement of operations; the ability of the Company to continue as a going concern and general economic conditions, as well as those factors discussed in the section entitled "Risk Factors" in the Company's Annual Information Form. These factors should be considered carefully and readers of this press release should not place undue reliance on forward-looking information.
Although the forward-looking information contained in this press release is based upon what management believes to be reasonable assumptions, there can be no assurance that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. The information in this press release, including such forward-looking information, is made as of the date of this press release and, other than as required by applicable securities laws, Polaris assumes no obligation to update or revise such information to reflect new events or circumstances.
SOURCE: Polaris Renewable Energy Inc.
View the original press release on ACCESS Newswire