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OceanaGold Announces Share Buyback Program
OceanaGold Announces Share Buyback Program Canada NewsWire VANCOUVER, BC ...
About this update from Oceanagold Corporation
[{"type":"text","content":"\n \n \n \n OceanaGold Announces Share Buyback Program\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 \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n July 22, 2024\n \n \n /CNW/ - OceanaGold Corporation (TSX: OGC) (OTCQX: OCANF) (\"OceanaGold\" or the \"Company\") announces that it has received approval from the Toronto Stock Exchange (\"TSX\") to buy back up to 35.5 million common shares (\"Common Shares\"), representing approximately 5% of OceanaGold's outstanding Common Shares and approximately 5% of the current public float of Common Shares, pursuant to a Normal Course Issuer Bid (\"NCIB\") in the open market through the facilities of the TSX or alternative Canadian trading systems over the next 12 months. As of\n \n July 18, 2024\n \n , there were a total of 711,239,778 Common Shares issued and outstanding.\n \n \n In connection with the NCIB, the Company has entered into an Automatic Share Purchase Plan (\"ASPP\") with a designated broker to allow for the repurchase of Common Shares at times when the Company ordinarily would not be active in the market due to its own internal trading blackout periods.\n \n \n \n Gerard Bond\n \n , President and Chief Executive Officer of OceanaGold, said \"With the balance sheet further strengthened following the recent completion of the Didipio IPO and Blackwater sale, the initiation of a share buyback program is consistent with our capital allocation framework. With the Free Cash Flow we expect to deliver in the coming years and today's strong metal prices, the Company is well positioned to continue funding our attractive organic growth projects, maintain a strong balance sheet and the current dividend, and increase returns to shareholders via a buyback.\"\n \n \n The Company has received approval from the TSX, during the 12-month period commencing on July\n \n \n 24, 2024 and ending on or before July\n \n \n 23, 2025, to purchase Common Shares through the facilities of the TSX and alternative Canadian trading systems. Under the terms of the NCIB, the Company may purchase up to a daily m...