Mullen Group Ltd. Announces Renewal of Normal Course Issuer Bid for Shares and Approval of Normal Course Issuer Bid for Debentures

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[{"type":"text","content":"Mullen Group Ltd. Announces Renewal of Normal Course Issuer Bid for Shares and Approval of Normal Course Issuer Bid for Debentures\n\n\n\n OKOTOKS, Alberta, March 07, 2025 (GLOBE NEWSWIRE) -- (TSX: MTL) Mullen Group Ltd. (\"\n \n Mullen Group\n \n \" and/or the \"\n \n Corporation\n \n \") announced today that it has received approval from the Toronto Stock Exchange (the \"\n \n Exchange\n \n \") for the renewal of its normal course issuer bid for the common shares of the Corporation (\"\n \n Shares\n \n \") and approval to commence a normal course issuer bid for the 5.75% Convertible Unsecured Subordinated Debentures of the Corporation (the \"\n \n Debentures\n \n \"). The renewal of the normal course issuer bid for the Shares and the approval of the normal course issuer bid for the Debentures are collectively referred to herein as the \"\n \n Bid\n \n \".\n \n\n For its normal course issuer bid for the Shares that began on March 11, 2024, and that will expire on March 10, 2025, Mullen Group previously received approval from the Exchange to repurchase up to 8,220,349 Shares. Of this amount, as of February 28, 2025, the Corporation had repurchased 506,380 Shares for a total cost of approximately $6.64 million, representing a volume weighted average price of $13.11 per Share.\n \n\n Pursuant to the Bid, the Corporation may repurchase from time to time up to a maximum of 8,157,012 Shares, which represents, as at February 28, 2025, approximately 10% of the Corporation's Public Float (as that term is defined in the policies of the Exchange). Additionally, pursuant to the Bid, the Corporation may repurchase from time to time up to a maximum of $12,015,000 principal amount of Debentures, representing 10% of the Corporation's Public Float of the Debentures. The Bid shall commence on March 11, 2025, and expire at the closing of trading on March 10, 2026.\n \n\n Purchases may be made through the facilities of the Exchange or through alternative Canadian trading systems, if eligible. Any Shares or Debentures purchased under the Bid will be cancelled. The price which the Corporation will pay for any such Shares or Debentures will be the prevailing market price at the time of acquisition. The actual number of Shares or Debentures which may be purchased pursuant to the Bid will be determined by management of the Corporation.\n \n\n As o...

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