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Triple Flag Precious Metals Receives Approval for Normal Course Issuer Bid
TORONTO / Nov 13, 2023 / Business Wire / Triple Flag Precious Metals Corp. (with its subsidiaries, “Triple Flag” or the “Company”) (TSX:TFPM, NYSE:TFPM) announc
About this update from Triple Flag Precious Metals Corp.
[{"type":"text","content":"TORONTO / Nov 13, 2023 / Business Wire / Triple Flag Precious Metals Corp. (with its subsidiaries, “Triple Flag” or the “Company”) (TSX:TFPM, NYSE:TFPM) announced today that the Toronto Stock Exchange (the “TSX”) has accepted the notice filed by Triple Flag to renew its normal course issuer bid (the “NCIB”). Under the NCIB, Triple Flag is authorized to purchase up to 10,078,488 of its common shares (the “Common Shares”) (out of the 201,569,762 Common Shares issued and outstanding as at November 1, 2023), representing 5% of Triple Flag’s issued and outstanding Common Shares, during the period starting on November 15, 2023 and ending on November 14, 2024. In deciding to establish the NCIB, Triple Flag believes that the purchase of Common Shares from time to time can be undertaken at prices that make the acquisition of such Common Shares an appropriate use of Triple Flag’s available funds and an appropriate mechanism for returning capital to its shareholders. Triple Flag may make any purchases through the facilities of the TSX, the New York Stock Exchange (the “NYSE”) and alternative trading systems, if eligible, or by such other means as may be permitted by the TSX, the NYSE or under applicable law by a registered investment dealer (or an affiliate of the dealer), including private agreement purchases or share purchase program agreement purchases if Triple Flag receives, if applicable, an issuer bid exemption order in the future from applicable securities regulatory authorities in Canada for such purchases. Daily repurchases on the TSX will be limited to a maximum of 26,350 Common Shares, representing 25% of the average daily trading volume on the TSX of 105,401 Common Shares for the period from May 1, 2023 to October 31, 2023 (net of repurchases made by Triple Flag during that time period), except where purchases are made in accordance with the “block purchase exception” of the TSX rules. Rule 10b-18 of the United States Securities Exchange Act of 1934 contains similar volume-based restrictions on daily purchases on the NYSE, subject to certain exceptions for block repurchases. All Common Shares that are repurchased by Triple Flag under the NCIB will be cancelled. Purchase and payment for the Common Shares will be made by Triple Flag in accordance with the requirements of the TSX and applicable Canadian and United States securiti...