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Freehold Royalties Receives TSX Approval for Renewal of Normal Course Issuer Bid
Freehold Royalties Receives TSX Approval for Renewal of Normal Course Issuer
About this update from Freehold Royalties Ltd.
[{"type":"text","content":"CALGARY, Alberta, May 25, 2026 (GLOBE NEWSWIRE) -- Freehold Royalties Ltd. (\"Freehold\" or the \"Company\") (TSX – FRU) is pleased to announce that the Toronto Stock Exchange (the \"TSX\") has accepted Freehold's notice of intention to renew its normal course issuer bid (the \"Renewed NCIB\"). Under the Renewed NCIB, Freehold may purchase up to 13,699,485 common shares (the \"Shares\") (representing approximately 10 percent of the Company's 163,960,334 issued and outstanding Shares as of May 14, 2026 less Shares held by directors, executive officers and principal securityholders (holders holding greater than 10% of the issued and outstanding Shares) of the Company). Any Shares that are purchased under the Renewed NCIB will be cancelled upon their purchase by Freehold. The total number of Shares that Freehold is permitted to purchase is subject to a daily purchase limit of 179,831 Shares, representing 25% of the average daily trading volume of 719,326 Shares on the TSX calculated for the six-month period ended April 30, 2026; however, Freehold may make one block purchase per calendar week which exceeds the daily repurchase restrictions. The Renewed NCIB is expected to commence on May 27, 2026 and will terminate on the earlier of: (i) the date on which the Company has acquired all Shares sought pursuant to the Renewed NCIB; or (ii) to May 26, 2027 unless earlier terminated at the option of the Company, upon prior notice being given to the TSX. The Shares will be purchased on behalf of Freehold by a registered broker through the facilities of the TSX and through other alternative Canadian trading platforms at the prevailing market price at the time of such transaction. Under its current normal course issuer bid that commenced on May 27, 2025 and is expiring May 26, 2026, the Company sought and obtained approval from the TSX to purchase up to 13,699,733 Shares. Freehold did not purchase any Shares under the expiring normal course issuer bid. The actual number of Shares that may be purchased under the Renewed NCIB and the timing of any such purchases will be determined by Freehold. The Company believes that, at times, the prevailing Share price does not reflect the underlying value of the Shares and the repurchase of Shares for cancellation represents an attractive opportunity to enhance the Company's per Share metrics and ther...