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Frontera Announces Intention to Implement Normal Course Issuer Bid and Automatic Share Purchase Plan
Frontera Announces Intention to Implement Normal Course Issuer Bid and Automatic Share Pur...
About this update from Frontera Energy Corporation
[{"type":"text","content":"\n\n\n\nFrontera Announces Intention to Implement Normal Course Issuer Bid and Automatic Share Purchase Plan\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\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, July 9, 2018\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES./\n\n\n\nTORONTO, July 9, 2018 /CNW/ -  Frontera Energy Corporation (TSX: FEC) (\"Frontera\" or the \"Company\") announces that it intends to implement a normal course issuer bid (\"NCIB\") for its common shares (\"Common Shares\"). The NCIB will be made in accordance with the policies of the Toronto Stock Exchange (\"TSX\") and the commencement of purchases under the NCIB is subject to approval of the TSX.\n\nUnder the NCIB, Frontera intends to purchase, during a 12 month period, up to 3,543,270 Common Shares, representing approximately 3.5% of the Company's 100,011,664 issued and outstanding Common Shares as at July 9, 2018.\n\nIn connection with its NCIB, Frontera also intends to enter into an automatic share purchase plan (the \"Plan\") with a designated broker to facilitate the purchase of Common Shares under the NCIB at times when Frontera would ordinarily not be permitted to purchase its Common Shares due to regulatory restrictions or self-imposed blackout periods. Frontera self-imposes regular blackouts during the period commencing 15 days prior to the end of each fiscal quarter (and 30 days prior to the end of each fiscal year) and ending at the opening of trading on the first business day following public release of its financial results for such periods. Pursuant to the Plan, before entering a blackout period, Frontera may, but is not required to, instruct the designated broker to make purchases under the NCIB based on parameters established by Frontera. Such purchases will be determined by the designated broker based on Frontera's parameters in accordance with the rules of the TSX, applicable securities laws and the terms of the Plan.\n\nFrontera believes that, from time to time, the market price of its Common Shares may not fully reflect the underlying value of i...