Olive Resource Capital Announces TSXV Approval of Normal Course Issuer Bid

Rhea-AI Summary

Olive Resource Capital (TSXV: OC) has received TSX Venture Exchange approval for a normal course issuer bid (NCIB) to repurchase up to 8,321,280 common shares, representing approximately 10% of its public float. The NCIB will run from September 3, 2025, to September 2, 2026.

The company has engaged Canaccord Genuity Corp. as the broker for the buyback program. Under its previous NCIB, Olive purchased 3,030,000 shares at a weighted average price of $0.029 per share. The company believes the market price of its shares may not fully reflect the underlying business value, making share repurchases beneficial for shareholders.

Positive

• Authorization to repurchase up to 8.3M shares (10% of public float)
• Shows management's confidence in company's underlying value
• Previous NCIB successfully executed with 3.03M shares repurchased

Negative

• Share price trading at low levels ($0.029 average in previous buyback)
• Only 30% of previous NCIB allocation was utilized

Toronto, Ontario--(Newsfile Corp. - August 28, 2025) - Olive Resource Capital Inc. (TSXV: OC) ("Olive" or the "Company") announces it has received approval from the TSX Venture Exchange to conduct, at the Company's discretion, a normal course issuer bid program to purchase up to 8,321,280 of its common shares (the "Bid").

The Company is commencing the Bid because it believes that from time to time the market price of its common shares may not fully reflect the underlying value of the Company's business, and that the repurchase of its common shares at those times would be in the best interests of its shareholders.

As of the date hereof, the Company has 106,144,709 common shares issued and outstanding. The maximum number of common shares that may be purchased by the Company under the Bid represents approximately 10% of the Company's "Public Float" (calculated in accordance with the rules of the TSX Venture Exchange (the "TSXV")). The Bid will commence on September 3, 2025, and will terminate on September 2, 2026, or on an earlier date in the event that the maximum number of common shares sought in the Bid has been repurchased. The Company reserves the right to terminate the Bid at any time.

Purchases pursuant to the Bid are expected to be made with existing working capital through the facilities of the TSXV, or by such other permitted means (including through alternative trading systems in Canada), at prevailing market prices or as otherwise permitted.

Any purchases on the TSXV under the Bid will be subject to all limitations as set forth in the TSXV rules. All common shares purchased by Olive under the Bid will be cancelled.

The Company has engaged Canaccord Genuity Corp. to act as the broker through which the Bid will be conducted.

The Company obtained TSXV approval for a previous normal course issuer bid to purchase up to 10,153,620 common shares for the period between January 18, 2024 to January 17, 2025. A total of 3,030,000 common shares were purchased pursuant to the Company's previous normal course issuer bid at a weighted average price of $0.029 per common share.

About Olive Resource Capital Inc.:

Olive is a resource-focused merchant bank and investment company with a portfolio of publicly listed and private securities. The Company's assets consist primarily of investments in natural resource companies in all stages of development.

For further information, please contact:

Derek Macpherson, Executive Chairman at derek@olive-resource.com or by phone at (416) 294-6713 or Samuel Pelaez, President, CEO & CIO at sam@olive-resource.com or by phone at (202) 677-8513. Olive's website is located at www.olive-resource.com

No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy of this release.

Cautionary Note Regarding Forward-Looking Statements: This press release contains "forward-looking information" within the meaning of applicable Canadian securities laws. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, identified by words or phrases such as "believes", "anticipates", "expects", "is expected", "scheduled", "estimates", "pending", "intends", "plans", "forecasts", "targets", or "hopes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "will", "should", "might", "will be taken", or "occur" and similar expressions) are not statements of historical fact and may be forward-looking statements. In particular, but without limiting the foregoing, this news release contains forward-looking statements pertaining to TSXV approvals and purchases and the timing thereof under the Company's Bid.

This news release includes forward-looking statements that are subject to risks and uncertainties. Forward-looking statements involve known and unknown risks, uncertainties, and other factors that could cause the actual results of Olive to be materially different from the historical results or from any future results expressed or implied by such forward-looking statements. All statements contained in this news release, other than statements of historical fact, are to be considered forward-looking. Although Olive believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from such forward looking information include, but are not limited to: past success or achievement does not guarantee future success; negative investment performance; downward market fluctuations; downward fluctuations in commodity prices and changes in the prices of commodities in general; uncertainties relating to the availability and costs of financing needed in the future; interest rate and exchange rate fluctuations; changes in economic and political conditions that could negatively affect certain commodity prices; an inability to predict and counteract the effects of global events on the business of the Company, including but not limited to the effects of pandemics or conflicts on the price of commodities, capital market conditions, restriction on labour and international travel and supply chains; and those risks set out in the Company's public documents filed on SEDAR. Accordingly, readers should not place undue reliance on forward-looking information. Olive does not undertake to update any forward-looking information except in accordance with applicable securities laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/264149

FAQ

How many shares can Olive Resource Capital (TSXV: OC) repurchase under the new NCIB?

Olive Resource Capital can repurchase up to 8,321,280 common shares, representing approximately 10% of its public float.

When does Olive Resource Capital's new share buyback program start and end?

The NCIB program runs from September 3, 2025, to September 2, 2026, unless the maximum share amount is reached earlier.

How many shares did Olive Resource Capital repurchase under its previous NCIB?

Under its previous NCIB, the company repurchased 3,030,000 shares at a weighted average price of $0.029 per share.

Who is the broker for Olive Resource Capital's share buyback program?

Canaccord Genuity Corp. has been engaged as the broker to conduct the normal course issuer bid.

Why is Olive Resource Capital implementing this share buyback program?

The company believes its market price may not fully reflect the underlying value of its business, making share repurchases beneficial for shareholders.