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Frontera Announces Renewal of its Normal Course Issuer Bid
Frontera Announces Renewal of its Normal Course Issuer Bid Canada NewsWire ...
About this update from Frontera Energy Corporation
[{"type":"text","content":"\n \n \n \n Frontera Announces Renewal of its Normal Course Issuer Bid\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.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n Frontera May Purchase up to 4,787,976 Common Shares,\n \n \n Representing Approximately 10% of the Company's Public Float\n \n \n \n \n \n CALGARY, AB\n \n \n ,\n \n \n March 15, 2022\n \n \n /CNW/ - Frontera Energy Corporation (TSX: FEC) (\"\n \n Frontera\n \n \" or the \"\n \n Company\n \n \") announces that the Toronto Stock Exchange (the \"\n \n TSX\n \n \") has accepted its notice to initiate a normal course issuer bid (the \"\n \n NCIB\n \n \") for its common shares (the \"\n \n Common Shares\n \n \"), upon the expiry of its current normal course issuer bid on\n \n March 16, 2022\n \n .\n \n \n Pursuant to the NCIB, Frontera may purchase up to 4,787,976 Common Shares during the 12-month period commencing\n \n March 17, 2022\n \n , and ending\n \n March 16, 2023\n \n , representing approximately 10% of the Company's \"public float\" (as calculated in accordance with the TSX rules) as at\n \n March 7, 2022\n \n . As at\n \n March 7, 2022\n \n , there were 94,449,994 Common Shares issued and outstanding of which 47,879,767 constitute the \"public float\", calculated in accordance with the rules of the TSX. There are no persons acting jointly or in concert with the Company in respect of the NCIB.\n \n \n The average daily trading volume of the Common Shares was 117,083 Common Shares over the period between\n \n September 1, 2021\n \n and\n \n February 28, 2022\n \n . Consequently, daily purchases through the facilities of the TSX will be limited to 29,270 Common Shares, other than block purchase exceptions.\n \n \n Frontera believes that, from time to time, the market price of its Common Shares may not fully reflect the underlying value of its business, future prospects and financial position. In such circumstances, Frontera may purchase for cancellation outstanding Common Shares, thereby benefitting all shareholders by increasing the underlying value of the remaining Common ...