/NOT FOR DISSEMINATION IN THE U.S. OR THROUGH U.S. NEWSWIRES/
CALGARY, AB, July 7, 2026 /CNW/ - Highwood Asset Management Ltd. ("Highwood" or the "Company") (TSXV: HAM) is pleased to announce that the TSX Venture Exchange (the "Exchange" or "TSXV") has accepted a notice (the "Notice") filed by the Company of its intention to make a normal course issuer bid (the "NCIB"). In connection with the NCIB, the Company will enter into an automatic share purchase plan (an "ASPP") with RBC Dominion Securities (the "Broker") to allow for purchases of its common shares (the "Shares").
The Notice provides that the Company may, during the 12-month period commencing July 7, 2026 and ending July 6, 2027, or on such earlier date as Highwood completes its purchases or provides notice of termination, purchase up to 567,538 Shares in total, representing approximately 10% of the Company's "public float" as at July 7, 2026. As of the close of business on July 6, 2026, the Company had 15,198,818 Shares issued and outstanding. In accordance with the policies of the Exchange, the Company may not purchase more than 2% of its issued and outstanding Shares during any 30-day period, which as of the date hereof represents approximately 303,976 Shares. The actual number of Shares which may be purchased under the NCIB and the timing of any such purchases will be determined by management of the Company, subject to applicable law and the rules of the TSXV. Highwood has not previously purchased for cancellation any of its outstanding securities.
Subject to any required regulatory approvals, all purchases of Shares under the NCIB will be conducted through the facilities of the TSXV and/or alternative Canadian trading systems at prevailing market prices, or by such other means as may be permitted by the applicable securities regulator. All Shares purchased under the NCIB are to be cancelled or otherwise reserved as treasury shares. Purchases under the NCIB will be made from time to time by the Broker on behalf of the Company.
Highwood will enter into an ASPP with the Broker to allow for the purchase of Shares under the NCIB at times when the Company would ordinarily not be permitted to purchase Shares due to regulatory restrictions or self-imposed blackout periods.
Pursuant to the ASPP, prior to entering into a blackout period, Highwood may, but is not required to, instruct the Broker to make purchases under the NCIB in accordance with the terms of the ASPP. Such purchases will be determined by the Broker in its sole discretion based on parameters established by Highwood prior to the blackout period in accordance with the rules of the TSXV, applicable securities laws and the terms of the ASPP. The ASPP has been pre-cleared by the TSXV concurrently with the initiation of the NCIB.