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Polaris Renewable Energy Announces Renewal Of Normal Course Issuer Bid
TORONTO, ONTARIO / ACCESS Newswire / August 21, 2025 / Polaris Renewable Energy Inc. (TSX:PIF)...
About this update from Polaris Renewable Energy Inc.
[{"type":"text","content":"Polaris Renewable Energy Announces Renewal Of Normal Course Issuer BidTORONTO, ONTARIO / ACCESS Newswire / August 21, 2025 / Polaris Renewable Energy Inc. (TSX:PIF) (\"Polaris\" or the \"Company\") today announced that the Toronto Stock Exchange (\"TSX\") has accepted its notice of intention to renew its normal course issuer bid (\"NCIB\").The Company's Board of Directors believes that an NCIB represents an appropriate and desirable use of its available free cash to increase shareholder value and is in the best interest of the Company and its shareholders.Pursuant to the notice, Polaris may purchase up to 2,029,745 of its common shares (\"Shares\"), representing approximately 10% of the public float of 20,297,451 Shares as at August 13, 2025, during the twelve month period commencing August 25, 2025 and ending August 24, 2026, provided that the board of directors of Polaris has initially limited the NCIB to repurchase up to 176,125 Shares. As at August 13, 2025, there were 21,007,433 Shares issued and outstanding. Under the NCIB, other than purchases made under block purchase exemptions, the Company may purchase up to 7,303 Shares on the TSX during any trading day, which represents approximately 25% of 29,213 Shares, which represents the average daily trading volume on the TSX for the most recently completed six calendar months prior to the TSX's acceptance of the notice of the NCIB. Any Shares purchased under the NCIB will be cancelled.Under the Company's current NCIB, the Company sought and obtained approval to purchase up to 2,045,613 Shares from August 23, 2024 to August 22, 2025. As at August 13, 2025, the Company repurchased an aggregate of 85,400 Shares at a weighted-average price of $12.02 per Share. The Company purchased all Shares through the facilities of the TSX and alternative Canadian trading systems on which the Shares trade from time to time.Although the Company intends to purchase Shares under its NCIB, there can be no assurances that any such purchases will be completed. Any purchases made under the NCIB will be made by the Company at the prevailing market price at the time of acquisition and by means of open market transactions through the facilities of the TSX and alternative Canadian trading systems on which the Shares trade from time to time.The Company has entered into an automatic share purchase plan (\"A...