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Sprott Announces Renewal of Normal Course Issuer Bid
TORONTO, March 06, 2025 (GLOBE NEWSWIRE) -- Sprott Inc. (NYSE/TSX: SII) (“Sprott” o...
About this update from Sprott Inc.
[{"type":"text","content":"Sprott Announces Renewal of Normal Course Issuer Bid\n\n\n\n TORONTO, March 06, 2025 (GLOBE NEWSWIRE) -- Sprott Inc. (NYSE/TSX: SII) (“Sprott” or the “Company”) announced today that the Toronto Stock Exchange (“TSX”) has approved the Company’s notice of intention to make a normal course issuer bid (\"NCIB\"). Pursuant to the terms of the NCIB, Sprott may purchase its own common shares for cancellation through the facilities of the TSX, alternative Canadian trading systems and/or the New York Stock Exchange, in each case in accordance with the applicable requirements, through open market purchases at market price and as otherwise permitted under applicable securities laws. The maximum number of common shares which may be purchased by Sprott during the NCIB will not exceed 645,333 common shares being approximately 2.5% of 25,813,335 (representing the number of issued and outstanding common shares as of February 28, 2025). The average daily trading volume (the “ADTV”) of the common shares on the TSX for the six-month period ended February 28, 2025 was 26,765. Under the rules of the TSX, Sprott is entitled to repurchase during the same trading day on the TSX up to 25% of the ADTV of the common shares, being 6,691 common shares, except where such purchases are made in accordance with the “block purchase” exemption under applicable TSX policy. Sprott will effect purchases at varying times commencing on March 11, 2025 and ending on March 10, 2026.\n \n\n In addition to providing shareholders liquidity, Sprott believes that the common shares have been trading in a price range which does not adequately reflect the value of such shares in relation to Sprott’s business and its future prospects.\n \n\n Under its prior NCIB that commenced on March 4, 2024 and ended on March 3, 2025, Sprott sought and received approval from the TSX to repurchase up to 646,576 common shares. Pursuant to its prior NCIB, Sprott purchased an aggregate of 49,706 common shares through the facilities of the TSX, alternative Canadian trading systems and the NYSE. 34,048 common shares were purchased on the TSX or alternative Canadian trading systems at a weighted-average price of C$59.08 per common share, for total cash consideration of C$2,011,575.97, and 15,658 common shares were pur...