Xtra-Gold Announces 2026 Normal Course Issuer Bid and Results of 2025 Bid

Rhea-AI Summary

Xtra-Gold (OTCQB: XTGRF) announced a renewed 2026 normal course issuer bid to buy up to 4,000,000 common shares (about 10% of the public float). The 2026 Bid runs from March 18, 2026 to March 17, 2027, purchases on the TSX, shares to be cancelled.

Under the 2025 Bid the company repurchased 365,600 shares at an average price of $3.06 as of March 4, 2026. Haywood Securities will act as broker.

Positive

• Authorized buyback of 4,000,000 shares (~10% of public float)
• Share cancellations will increase remaining shareholders' proportionate equity
• Repurchased 365,600 shares in 2025 at an average of $3.06

Negative

• 2025 repurchases represented ~9% of the authorized 4,000,000, showing limited prior execution
• Daily cap of 4,465 shares may limit pace of buybacks and market impact

News Market Reaction – XTGRF

-3.31%

1 alert

-3.31% News Effect

On the day this news was published, XTGRF declined 3.31%, reflecting a moderate negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Toronto, Ontario--(Newsfile Corp. - March 13, 2026) - Xtra-Gold Resources Corp. (TSX: XTG) (OTCQB: XTGRF) ("Xtra- Gold" or the "Company") is pleased to announce today that the Toronto Stock Exchange ("TSX") has accepted a noticed filed by the Company of its intention to renew its prior normal course issuer bid for a further one-year period. The Company intends to proceed with a normal course issuer bid to purchase up to 4,000,000 common shares of the Company (the "2026 Bid").

The Company is commencing the 2026 Bid because it believes that the current market price of its common shares may not fully reflect the underlying value of the Company's business and its future business prospects. The Company believes that the purchase of common shares for cancellation is in the best interests of the Company's shareholders by increasing the respective proportionate shareholdings and therefore increasing the respective equity interest in the Company for all remaining shareholders.

As of March 4, 2026, the Company has 46,573,417 common shares issued and outstanding. The 4,000,000 common shares that may be purchased by the Company under the 2026 Bid represent approximately 10% of the public float (41,514,562 as of March 4, 2026) of the Company. The 2026 Bid will commence on March 18, 2026, and will terminate on March 17, 2027, or at such an earlier date if the number of shares sought in the 2025 Bid has been repurchased. The Company reserves the right to terminate the 2026 Bid earlier if it feels that it is appropriate to do so.

All shares will be purchased on the open market through the facilities of the TSX, and payment for the common shares will be in accordance with TSX policies. The price paid for the common shares will be the market price at the time of purchase. Purchasing may be suspended at any time, and no purchases will be made other than by means of open market transactions during the term of the 2026 Bid.

The maximum number of common shares that may be purchased daily is 4,465 common shares representing 25% of the average daily trading volume 17,863 for the last six calendar months, except where purchases are made in accordance with "block purchases" exemptions under applicable TSX policies. The common shares purchased by the Company will be cancelled.

The Company has engaged Haywood Securities Inc. to act as broker through which the 2026 Bid will be conducted.

Previous purchases were made by the Company under a prior normal course issuer bid (the "2025 Bid"), the results of which are noted hereunder.

Results of 2025 Bid

Pursuant to a previous notice of intention to conduct a normal course issuer bid, under which Company sought and received approval from the TSX to purchase up to 4,000,000 Common Shares for the period of March 18, 2025 to March 17, 2026, the Company has purchased, as of March 4, 2026, 365,600 Common Shares on the open market at an average purchase price of $3.06 per share. As of March 4, 2026 the issued and outstanding number of Common Shares is 46,573,417 shares and the public float of the Common share is 41,514,562 shares.

About Xtra-Gold Resources Corp.

Xtra-Gold is a gold exploration company with a substantial land position in the Kibi Gold Belt, in Ghana West Africa.

Contact Information

For further information please contact:

James Longshore, Chief Executive Officer
Telephone: 242-363-3864
E-mail: info@xtragold.com
Website: www.xtragold.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/288278

FAQ

What is Xtra-Gold's 2026 normal course issuer bid (XTGRF)?

The 2026 bid authorizes purchases of up to 4,000,000 common shares for cancellation. According to the company, purchases will be on the TSX and shares cancelled to increase remaining shareholders' proportional equity.

When does the XTGRF 2026 buyback start and end?

The 2026 buyback begins on March 18, 2026 and ends on March 17, 2027. According to the company, the bid may terminate earlier if repurchases reach the authorized amount or at management's discretion.

How many shares did Xtra-Gold repurchase in the 2025 bid and at what price?

Xtra-Gold repurchased 365,600 shares at an average price of $3.06. According to the company, these purchases were made on the open market as of March 4, 2026.

What percentage of the float does the XTGRF 2026 buyback represent?

The 4,000,000-share authorization represents approximately 10% of the public float. According to the company, the public float was 41,514,562 shares as of March 4, 2026.

How will the XTGRF buyback be executed and who is the broker?

Purchases will be made on the TSX via open market transactions, with Haywood Securities acting as broker. According to the company, payment and execution will follow TSX policies and market price at purchase time.

Are there limits on daily purchases under the XTGRF 2026 bid?

Yes, the maximum daily purchase is 4,465 shares, based on 25% of six-month average volume. According to the company, block purchase exemptions under TSX rules may allow different execution in some cases.