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Saturn Oil & Gas Inc. Announces TSX Approval to Renew the Normal Course Issuer Bid Following Successful Completion of Existing Program
Calgary, Alberta--(Newsfile Corp. - August 25, 2025) - Saturn Oil & Gas Inc. (TSX: SOIL) (OTC...
About this update from Saturn Oil & Gas Inc.
[{"type":"text","content":"Saturn Oil & Gas Inc. Announces TSX Approval to Renew the Normal Course Issuer Bid Following Successful Completion of Existing ProgramCalgary, Alberta--(Newsfile Corp. - August 25, 2025) - Saturn Oil & Gas Inc. (TSX: SOIL) (OTCQX: OILSF) (\"Saturn\" or the \"Company\"), a light oil-weighted producer focused on unlocking value through the development of our assets in Saskatchewan and Alberta, today announced that the Toronto Stock Exchange's (\"TSX\") has accepted Saturn's notice to renew our Normal Course Issuer Bid (\"NCIB\") for a further one-year term, following the successful completion of an existing NCIB which expires on August 26, 2025 (the \"Prior NCIB\"). Saturn's Return of Capital CommitmentPursuant to the Prior NCIB, Saturn received approval to purchase for cancelation up to 11,306,825 common shares (\"Shares\"), representing approximately 10% of the public float as of August 21, 2024. As of July 31, 2025, Saturn had repurchased and canceled 9,732,312 Shares for aggregate consideration of $20.3 million at a weighted average price per Share of $2.09. The Prior NCIB ran from August 27, 2024 and expires on August 26, 2025. Saturn also completed a Substantial Issuer Bid (\"SIB\") which closed July 16, 2025 and resulted in the cancellation of a further 1,608,182 Shares at a purchase price of $2.15 per Share. Saturn has repurchased and cancelled a total of 11.3 million Shares from August 27, 2024 to July 31, 2025, representing a reduction of approximately 6% in our Shares outstanding as at August 27, 2024.Saturn believes that dislocations exist between the current Share price and the inherent value of the business, and that the NCIB can increase shareholder value and enhance per Share growth for all shareholders. Delivering returns to shareholders is a key tenet of the Company's strategy and we continue to view Share buybacks as an effective tool. We remain committed to maintaining a financially prudent capital structure and managing our NCIB program in accordance with this objective. NCIB Renewal DetailsThe renewed NCIB allows Saturn to purchase for cancellation, from time to time, as the Company considers advisable, up to a maximum of 12,078,583 Shares, representing 10% of our public float, as defined by the TSX. As of August 21, 2025, Saturn had 192,858,149 Shares issued and outstanding, and 120,785,837 Shares outsta...