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TOURMALINE ANNOUNCES RENEWAL OF NORMAL COURSE ISSUER BID
TOURMALINE ANNOUNCES RENEWAL OF NORMAL COURSE ISSUER BID Canada NewsWire CA...
About this update from Tourmaline Oil Corp.
[{"type":"text","content":"\n\n\n\n TOURMALINE ANNOUNCES RENEWAL OF NORMAL COURSE ISSUER BID\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 Aug. 6, 2025\n \n\n /CNW/ - Tourmaline Oil Corp. (TSX: TOU) (\"\n \n Tourmaline\n \n \" or the \"\n \n Company\n \n \") is pleased to announce that the Toronto Stock Exchange (the \"\n \n TSX\n \n \") has approved the renewal of Tourmaline's normal course issuer bid (the \"\n \n NCIB\n \n \").\n \n\n\n\n\n\n\n\n\n The NCIB allows Tourmaline to purchase up to 19,342,343 common shares (representing 5% of its issued and outstanding common shares as of\n \n July 31, 2025\n \n ) over a period of twelve months commencing on August 8, 2025. The NCIB will expire on\n \n August 7, 2026\n \n . Under the NCIB, common shares may be repurchased in open market transactions on the TSX and other alternative trading platforms in\n \n Canada\n \n and in accordance with the rules of the TSX governing NCIBs. The total number of common shares Tourmaline is permitted to purchase is subject to a daily purchase limit of 563,429 common shares, representing 25% of the average daily trading volume of 2,253,717 common shares on the TSX calculated for the six-month period ended\n \n July 31, 2025\n \n ; however, Tourmaline may make one block purchase per calendar week which exceeds the daily repurchase restrictions.  Any common shares that are purchased under the NCIB will be cancelled upon their purchase by Tourmaline.\n \n\n Under its most recent normal course issuer bid, Tourmaline obtained approval to purchase up to 17,621,578 of its common shares, of which Tourmaline purchased no common shares.\n \n\n Tourmaline believes that at times, the prevailing share price does not reflect the underlying value of the common shares and the re-purchase of its common shares for cancellation represents an attractive opportunity to enhance Tourmaline's per share metrics and thereby increase the underlying value of its common shares to its shareholders. Tourmaline will use the NCIB as another tool to enhance to...