Strategic Metals Ltd. Announces New Normal Course Issuer Bid to Succeed the Normal Course Issuer Bid Which Will Expire on December 4, 2024
Rhea-AI Summary
Strategic Metals Ltd. (SMDZF) announced a new Normal Course Issuer Bid to repurchase up to 8,500,000 common shares, representing approximately 10% of the public float of 85,129,616 shares. The New Bid succeeds the existing bid (which purchased no shares) and will run from December 5, 2025 to December 4, 2026. There are currently 110,955,967 common shares issued and outstanding. Purchases will be made at management's discretion using unallocated cash resources, executed by Ventum Financial Corp., and shares bought will be returned to treasury for cancellation.
The company cited market volatility as the rationale for opportunistic repurchases to address potential undervaluation of its shares.
Positive
- Buyback size: up to 8,500,000 shares (~10% public float)
- Shares purchased will be cancelled, reducing issued share count
- Start date: December 5, 2025, providing a 12-month execution window
Negative
- Repurchases funded from unallocated cash, reducing liquidity or reserves
- No shares bought under previous bid, indicating no immediate execution to date
VANCOUVER, BC / ACCESS Newswire / December 1, 2025 / Strategic Metals Ltd. (TSXV:SMD) ("Strategic") announces that it is making a new Normal Course Issuer Bid (the "New Bid") pursuant to the provisions of TSX Venture Exchange Policy 5.6, to succeed its existing Normal Course Issuer Bid (the "Old Bid"), which will expire on December 4, 2025.
Strategic has purchased no shares under the Old Bid, which will expire on December 4, 2025. The New Bid will consist of the acquisition by Strategic of up to 8,500,000 common shares of its capital stock, representing approximately
Strategic is making the New Bid, to succeed the Old Bid (which was limited to an aggregate of 8,500,000 common shares), because it is of the opinion that fluctuating global market conditions periodically (and currently) may result in unwarranted reductions in Strategic's share price that do not reflect the underlying value of its assets. Strategic will utilize unallocated cash resources to effect purchases under the New Bid with a view to capitalizing on these potential price weaknesses. Shares purchased under the New Bid will be made at Management's discretion based on market conditions, and will be returned to Strategic's treasury for cancellation.
The New Bid will be conducted on behalf of Strategic by Ventum Financial Corp., of Suite 2500 - 733 Seymour Street, Vancouver, B.C. V6B 0S6.
ON BEHALF OF THE BOARD
"W. Douglas Eaton"
President and Chief Executive Officer
For further information concerning Strategic or its various exploration projects please visit our website at www.strategicmetalsltd.com or contact:
Corporate Information | Investor Inquiries |
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain forward looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of exploration and other risk factors beyond its control, and actual results may differ materially from the expected results.
SOURCE: Strategic Metals Ltd.
View the original press release on ACCESS Newswire
FAQ
What does Strategic Metals' New NCIB for SMDZF authorize and when does it start?
How long will Strategic Metals' SMDZF buyback program run?
How will Strategic Metals (SMDZF) fund share repurchases under the New Bid?
What happens to shares purchased under Strategic Metals' SMDZF New Bid?
How many common shares does Strategic Metals have outstanding before the New Bid?
