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Tamarack Valley Energy Ltd. Provides Update on Current NCIB and Receives TSX Approval for New NCIB
Tamarack Valley Energy Ltd. Provides Update on Current NCIB and Receives TSX Approval for ...
About this update from Tamarack Valley Energy Ltd.
[{"type":"text","content":"\n\n\n\nTamarack Valley Energy Ltd. Provides Update on Current NCIB and Receives TSX Approval for New NCIB\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\nCanada NewsWire\nCALGARY, April 4, 2019\n\n\n\nTSX: TVE\n CALGARY, April 4, 2019 /CNW/ - Tamarack Valley Energy Ltd. (\"Tamarack\" or the \"Company\") is pleased to provide an update on the current normal course issuer bid (the \"Current NCIB\") and announces that the Toronto Stock Exchange (the \"TSX\") has accepted the notice of Tamarack's intention to commence a new normal course issuer bid (the \"New NCIB\") on April 8, 2019.\nThe Current NCIB commenced on April 6, 2018 and will conclude on April 5, 2019. Under the Current NCIB, 3,309,900 shares were repurchased in open market transactions through the facilities of the TSX and alternative Canadian trading systems, at an average cost of $3.72 per share. As at March 31, 2019 Tamarack has 227,143,437 common shares (\"Common Shares\") outstanding.\nThe New NCIB allows Tamarack to acquire up to 8,600,000 Common Shares of the Company, representing 3.8% of the issued and outstanding Common Shares of the Company as at March 31, 2019, over a period of twelve months, expiring no later than April 7, 2020. Any Common Shares that are purchased under the NCIB will be cancelled upon their purchase by Tamarack.\nThe Common Shares may be repurchased in open market transactions on the TSX, alternative Canadian trading systems, or by such other exchanges or marketplaces through which the Common Shares may trade from time to time. The price which the Company will pay for any such Common Shares will be the prevailing market price at the time of purchase.\nThe total number of Common Shares the Company is permitted to purchase is subject to a daily purchase limit of 272,243 Common Shares, representing 25% of the average daily trading volume of 1,088,972 Common Shares on the TSX calculated for the six-month period ended March 31, 2019. Notwithstanding the daily purchase limit, Tamarack may make one block purchase per calendar week which exceeds the daily repurchase restriction...