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Alvopetro Announces Approval of Normal Course Issuer Bid and Automatic Share Purchase Plan
Alvopetro Announces Approval of Normal Course Issuer Bid and Automatic Share Purchase Plan ...
About this update from Alvopetro Energy Ltd.
[{"type":"text","content":"\n\n\n\n Alvopetro Announces Approval of Normal Course Issuer Bid and Automatic Share Purchase Plan\n \n\n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prnrbrb0{\nBORDER-RIGHT:black 0pt\n}\n.prnml4{\nMARGIN-TOP:0em; MARGIN-RIGHT:0em; MARGIN-BOTTOM:0em; MARGIN-LEFT:0.33em !IMPORTANT\n}\n.prnsbbb0{\nBORDER-BOTTOM:black 0pt\n}\n.prnvab{\nVERTICAL-ALIGN: BOTTOM\n}\n.prnsbtb0{\nBORDER-TOP:black 0pt\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\n}\n.prnpr2{\nPADDING-RIGHT:0.17em\n}\n.prnsblb0{\nBORDER-LEFT:black 0pt\n}\n.prnpl2{\nPADDING-LEFT:0.17em\n}\n.prnml40{\nMARGIN-LEFT:3.33em !IMPORTANT\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n\n CALGARY, AB\n \n\n ,\n \n\n Aug. 12, 2024\n \n\n /CNW/ - Alvopetro Energy Ltd. (TSXV: ALV) (OTCQX: ALVOF) (\"Alvopetro\" or the \"Company\") is pleased to announce the TSX Venture Exchange (\"TSXV\") has now approved the Company's proposed normal course issuer bid (the \"NCIB\") and an automatic share purchase plan (\"ASPP\").\n \n\n Pursuant to the NCIB, Alvopetro is authorized to repurchase up to 2,953,044 common shares, representing 8.1% of the common shares outstanding as of\n \n August 12, 2024\n \n and 10% of Alvopetro's \"public float\", over the period commencing on\n \n August 13, 2024\n \n and ending on the earlier of:\n \n August 12, 2025\n \n or such earlier date as the NCIB is completed or is terminated at the Company's election. Purchases under the NCIB may be made through open market transactions on the TSXV, the OTCQX and any alternate trading systems in\n \n Canada\n \n on which the common shares are traded, based on the prevailing market price, at such times and in such quantities as the Company may determine, subject to applicable regulatory restrictions. A maximum of 5% of Alvopetro's common shares outstanding may be purchased on the OTCQX during the twelve-month term of the NCIB. Any common shares purchased under the NCIB will be cancelled.  During the Company's previous normal course issuer bid, which ran from\n \n January 6, 2023\n \n until\n \n January 5, 2024\n \n (the \"Prior NCIB\"), the Company purchased 4,600 of its common...