Birchcliff Energy Ltd. Receives TSX Approval for Renewal of Normal Course Issuer Bid

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[{"type":"text","content":"Birchcliff Energy Ltd. Receives TSX Approval for Renewal of Normal Course Issuer Bid\n\n\n\n CALGARY, Alberta, Nov. 20, 2025 (GLOBE NEWSWIRE) -- Birchcliff Energy Ltd. (“\n \n Birchcliff\n \n ” or the “\n \n Corporation\n \n ”) (TSX: BIR) is pleased to announce that the Toronto Stock Exchange (the “\n \n TSX\n \n ”) has accepted the Corporation’s notice of intention to make a normal course issuer bid (the “\n \n NCIB\n \n ”).\n \n\n The NCIB allows Birchcliff to purchase up to 26,769,197 common shares, which is equal to 10% of Birchcliff’s public float of 267,691,970 common shares as of November 13, 2025. On November 13, 2025, Birchcliff had 273,379,956 common shares issued and outstanding. The NCIB will commence on November 27, 2025 and will terminate no later than November 26, 2026. Under the NCIB, common shares may be purchased in open market transactions on the TSX and/or alternative Canadian trading systems at the prevailing market price at the time of such transaction or by such other means as may be permitted by the Canadian Securities Administrators and under applicable securities laws, including by private agreement pursuant to issuer bid exemption orders issued by applicable securities regulatory authorities. Any purchase made pursuant to a private agreement under an exemption order issued by a securities regulatory authority will be at a discount to the prevailing market price. Subject to exceptions for block purchases, the total number of common shares that Birchcliff is permitted to purchase on the TSX during a trading day is subject to a daily purchase limit of 252,391 common shares, which represents 25% of the average daily trading volume on the TSX of 1,009,567 common shares for the six-month period ended October 31, 2025. All common shares purchased under the NCIB will be cancelled.\n \n\n Birchcliff believes that at times, the market price of its common shares may not reflect the underlying value of the Corporation’s business and that purchasing its common shares for cancellation may represent an attractive opportunity to allocate capital resources to reduce the number of common shares outstanding, thereby increasing the value of the remaining common shares and shareholders’ ownership in the underlying business. In addition, Bir...

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