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Stampede Drilling Announces a Normal Course Issuer Bid and Amends Credit Facility
Stampede Drilling Announces a Normal Course Issuer Bid and Amends Credit Facility Canad...
About this update from Stampede Drilling Inc.
[{"type":"text","content":"\n \n \n \n Stampede Drilling Announces a Normal Course Issuer Bid and Amends Credit Facility\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 CALGARY, AB\n \n \n ,\n \n \n May 30, 2023\n \n \n /CNW/ - Stampede Drilling Inc. (\"Stampede\" or the \"Company\") (TSXV: SDI) announced today that it has received TSX Venture Exchange (the \"TSXV\") approval to commence a normal course issuer bid (\"NCIB\") to purchase its common shares (\"Common Shares\") through the facilities of the TSXV and/or alternative trading platforms, commencing on\n \n June 1, 2023\n \n and expiring on the earlier of\n \n May 31, 2024\n \n and the date on which Stampede has acquired the maximum number of Common Shares allowable under the NCIB.\n \n \n \n \n \n \n \n \n \n Stampede intends to purchase, for cancellation, up to 21,872,232 Common Shares, representing 10% of the Company's Public Float (as such term is defined in TSXV Policy 1.1 –\n \n Interpretation\n \n ).\n \n \n Stampede believes that, from time to time, the market price of its Common Shares trade at prices that may not adequately reflect their underlying value and the repurchase of Common Shares for cancellation may represent an attractive use of the Company's financial resources. The actual number of Common Shares that may be purchased, if any, the timing of any such purchases, and the price at which the Common Shares are acquired will be determined based on a number of factors taken into consideration by the Company.\n \n \n Stampede has engaged Peters & Co. Limited to act as its broker for the NCIB. The NCIB will be made through the facilities of the TSXV and the purchase and payment for the Common Shares will be made in accordance with TSXV requirements and applicable securities laws. The Company has not purchased any Common Shares in the past 12 months through a normal course issuer bid.\n \n \n In conjunction with the establishment of the NCIB, the Company has further amended its amended and restated facility letter dated\n \n April 19, 2022\n \n , with...