Andean Precious Metals Establishes Automatic Share Purchase Plan
Andean Precious Metals (TSX: APM, OTCQX: ANPMF) has established an Automatic Share Purchase Plan (ASPP) in connection with its previously announced Normal Course Issuer Bid (NCIB). The ASPP, approved by the Toronto Stock Exchange on January 13, 2025, allows for the purchase and cancellation of up to 7,490,221 common shares.
The ASPP enables share repurchases during blackout periods when the company would typically be restricted from making purchases. The plan will be executed through Desjardins Securities Inc. and will run from January 14, 2025, until either the NCIB maximum purchase limit is reached, the NCIB expires on January 2, 2026, or the company terminates the plan.
Share purchases under the NCIB may also occur outside blackout periods at management's discretion, subject to TSX rules and securities laws. The company maintains the right to discontinue purchases at any time.
Andean Precious Metals (TSX: APM, OTCQX: ANPMF) ha istituito un Piano di Acquisto Azionario Automatico (ASPP) in relazione alla sua precedente offerta di acquisto in corso (NCIB). L'ASPP, approvato dalla Borsa di Toronto il 13 gennaio 2025, consente l'acquisto e l'annullamento di un massimo di 7.490.221 azioni ordinarie.
L'ASPP consente il riacquisto di azioni durante i periodi di blackout, quando l'azienda sarebbe normalmente limitata ad effettuare acquisti. Il piano sarà eseguito tramite Desjardins Securities Inc. e durerà dal 14 gennaio 2025, fino a che non verrà raggiunto il limite massimo di acquisto dell'NCIB, scadrà il 2 gennaio 2026, o l'azienda terminerà il piano.
Gli acquisti di azioni nell'ambito dell'NCIB possono anche avvenire al di fuori dei periodi di blackout a discrezione della direzione, in conformità con le regole della TSX e le leggi sui titoli. L'azienda si riserva il diritto di interrompere gli acquisti in qualsiasi momento.
Andean Precious Metals (TSX: APM, OTCQX: ANPMF) ha establecido un Plan de Compra Automática de Acciones (ASPP) en relación con su oferta de compra normal previamente anunciada (NCIB). El ASPP, aprobado por la Bolsa de Valores de Toronto el 13 de enero de 2025, permite la compra y cancelación de hasta 7.490.221 acciones ordinarias.
El ASPP permite la recompra de acciones durante períodos de inactividad, cuando la empresa normalmente estaría restringida para realizar compras. El plan se ejecutará a través de Desjardins Securities Inc. y estará vigente desde el 14 de enero de 2025, hasta que se alcance el límite máximo de compra del NCIB, expira el 2 de enero de 2026, o la empresa termine el plan.
Las compras de acciones bajo el NCIB también pueden ocurrir fuera de los períodos de inactividad a discreción de la administración, de acuerdo con las reglas de la TSX y las leyes de valores. La empresa se reserva el derecho de interrumpir las compras en cualquier momento.
안데안 프레셔스 메탈스 (TSX: APM, OTCQX: ANPMF)는 이전에 발표된 정상 주식 발행 제안(NCIB)과 관련하여 자동 주식 구매 계획(ASPP)을 수립하였습니다. ASPP는 2025년 1월 13일 토론토 증권 거래소의 승인을 받았으며, 7,490,221주의 보통주를 구매하고 취소할 수 있도록 합니다.
ASPP는 회사가 일반적으로 구매를 제한받는 블랙아웃 기간 동안 주식 재매입을 가능하게 합니다. 이 계획은 Desjardins Securities Inc.를 통해 실행되며, 2025년 1월 14일부터 NCIB의 최대 구매 한도가 도달하거나, NCIB가 2026년 1월 2일에 만료되거나, 회사가 계획을 종료할 때까지 운영됩니다.
NCIB에 따른 주식 구매는 관리자의 재량에 따라 블랙아웃 기간 외에도 발생할 수 있으며, TSX 규칙 및 증권법에 따릅니다. 회사는 언제든지 구매를 중단할 권리를 보유합니다.
Andean Precious Metals (TSX: APM, OTCQX: ANPMF) a établi un Plan d'Achat d'Actions Automatique (ASPP) en lien avec son offre d'achat dans le cours normal des affaires (NCIB) précédemment annoncée. L'ASPP, approuvé par la Bourse de Toronto le 13 janvier 2025, permet l'achat et l'annulation de jusqu'à 7.490.221 actions ordinaires.
L'ASPP permet des rachats d'actions pendant les périodes de blackout, lorsque l'entreprise serait normalement restreinte dans ses achats. Le plan sera exécuté par Desjardins Securities Inc. et sera en vigueur du 14 janvier 2025 jusqu'à ce que la limite maximale d'achat du NCIB soit atteinte, le NCIB expire le 2 janvier 2026 ou que la société mette fin au plan.
Les achats d'actions dans le cadre du NCIB peuvent également avoir lieu en dehors des périodes de blackout à la discrétion de la direction, conformément aux règles de la TSX et aux lois sur les valeurs mobilières. L'entreprise se réserve le droit d'interrompre les achats à tout moment.
Andean Precious Metals (TSX: APM, OTCQX: ANPMF) hat einen Automatischen Aktienkaufplan (ASPP) im Zusammenhang mit dem zuvor angekündigten regulären Rückkaufangebot (NCIB) eingerichtet. Der ASPP, der am 13. Januar 2025 von der Toronto Stock Exchange genehmigt wurde, ermöglicht den Kauf und die Stornierung von bis zu 7.490.221 Stammaktien.
Der ASPP ermöglicht den Aktienrückkauf während von Blackout-Zeiten, in denen das Unternehmen normalerweise eingeschränkt wäre, Käufe zu tätigen. Der Plan wird über Desjardins Securities Inc. durchgeführt und läuft vom 14. Januar 2025 bis entweder die maximale Kaufgrenze des NCIB erreicht ist, das NCIB am 2. Januar 2026 abläuft oder das Unternehmen den Plan beendet.
Aktienkäufe im Rahmen des NCIB können auch außerhalb von Blackout-Zeiten nach Ermessen des Managements stattfinden, vorbehaltlich der TSX-Regeln und der Wertpapiergesetze. Das Unternehmen behält sich das Recht vor, die Käufe jederzeit einzustellen.
- Implementation of share buyback program for up to 7,490,221 shares, potentially increasing value for remaining shareholders
- Flexibility to execute share repurchases during blackout periods through ASPP mechanism
- No guaranteed number of shares to be purchased under the NCIB
- Potential use of company cash reserves for share buybacks instead of operational growth
Toronto, Ontario--(Newsfile Corp. - January 14, 2025) - Andean Precious Metals Corp. (TSX: APM) (OTCQX: ANPMF) ("Andean", or the "Company") announced today that, in connection with its previously announced normal course issuer bid ("NCIB") to purchase for cancellation up to 7,490,221 of its common shares ("Common Shares"), the Toronto Stock Exchange ("TSX") has accepted notice that the Company has entered into an automatic share purchase plan ("ASPP") with Desjardins Securities Inc. The ASPP was approved by the TSX on January 13, 2025, and commenced today, January 14, 2025.
The ASPP is intended to facilitate repurchases of Common Shares at times under the NCIB when the Company would ordinarily not be permitted to make purchases due to regulatory restrictions or customary self-imposed blackout periods. Before the commencement of any trading blackout period, Andean may, but is not required to, instruct its designated broker to make purchases of Common Shares under the NCIB during the ensuing blackout period in accordance with the terms of the ASPP. Such purchases will be determined by the designated broker at its sole discretion based on purchasing parameters set by Andean in accordance with the rules of the TSX, applicable securities laws and the terms of the ASPP.
The ASPP will terminate on the earliest of the date on which: (a) the maximum annual purchase limit under the NCIB has been reached; (b) the NCIB expires; or (c) Andean terminates the ASPP in accordance with its terms. The ASPP constitutes an "automatic securities purchase plan" under applicable Canadian securities law.
Outside of pre-determined blackout periods, Common Shares may be purchased under the NCIB based on management's discretion, in compliance with TSX rules and applicable securities laws.
The Company's current NCIB commenced on January 3, 2025, and will remain active until January 2, 2026, or such earlier date as the NCIB is completed or is terminated at the Company's election. All purchases of Common Shares made under the ASPP will be included in determining the number of Common Shares purchased under the NCIB.
There can be no assurance as to the precise number of Common Shares that will be purchased pursuant to the NCIB, if any. The Company may discontinue purchases under the NCIB at any time, subject to compliance with applicable regulatory requirements.
About Andean Precious Metals
Andean is a growing precious metals producer focused on expanding into top-tier jurisdictions in the Americas. The Company owns and operates the San Bartolomé processing facility in Potosí, Bolivia and the Soledad Mountain mine in Kern County, California, and is well-funded to act on future growth opportunities. Andean's leadership team is committed to creating value; fostering safe, sustainable and responsible operations; and achieving our ambition to be a multi-asset, mid-tier precious metals producer.
For more information, please contact:
Amanda Mallough
Director, Investor Relations
amallough@andeanpm.com
T: +1 647 463 7808
Neither the TSX Venture Exchange, Inc. nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Caution Regarding Forward-Looking Statements
Certain statements and information in this release constitute "forward-looking statements" within the meaning of applicable U.S. securities laws and "forward-looking information" within the meaning of applicable Canadian securities laws, which we refer to collectively as "forward-looking statements". Forward-looking statements are statements and information regarding possible events, conditions or results of operations that are based upon assumptions about future economic conditions and courses of action. All statements and information other than statements of historical fact may be forward-looking statements. In some cases, forward-looking statements can be identified by the use of words such as "seek", "expect", "anticipate", "budget", "plan", "estimate", "continue", "forecast", "intend", "believe", "predict", "potential", "target", "may", "could", "would", "might", "will" and similar words or phrases (including negative variations) suggesting future outcomes or statements regarding an outlook.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements, or industry results, to differ materially from those anticipated in such forward-looking statements. The Company believes the expectations reflected in such forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct, and you are cautioned not to place undue reliance on forward-looking statements contained herein.
Some of the risks and other factors which could cause actual results to differ materially from those expressed in the forward-looking statements contained in this release include, but are not limited to: risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits and conclusions of economic evaluations; results of initial feasibility, pre-feasibility and feasibility studies, and the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; risks relating to possible variations in reserves, resources, grade, planned mining dilution and ore loss, or recovery rates and changes in project parameters as plans continue to be refined; mining and development risks, including risks related to accidents, equipment breakdowns, labour disputes (including work stoppages and strikes) or other unanticipated difficulties with or interruptions in exploration and development; the potential for delays in exploration or development activities or the completion of feasibility studies; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; risks related to commodity price and foreign exchange rate fluctuations; the uncertainty of profitability based upon the cyclical nature of the industry in which the Company operates; risks related to failure to obtain adequate financing on a timely basis and on acceptable terms or delays in obtaining governmental or local community approvals or in the completion of development or construction activities; risks related to environmental regulation and liability; political and regulatory risks associated with mining and exploration; risks related to the uncertain global economic environment; and other factors contained in the section entitled "Risk Factors" in the Company's MD&A for the three and nine months ended September 30, 2024.
Although the Company has attempted to identify important factors that could cause actual results or events to differ materially from those described in the forward-looking statements, you are cautioned that this list is not exhaustive and there may be other factors that the Company has not identified. Furthermore, the Company undertakes no obligation to update or revise any forward-looking statements included in this release if these beliefs, estimates and opinions or other circumstances should change, except as otherwise required by applicable law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/237106
FAQ
How many shares can Andean Precious Metals (ANPMF) repurchase under its new NCIB program?
When does Andean Precious Metals' (ANPMF) current NCIB program expire?
What is the purpose of ANPMF's Automatic Share Purchase Plan (ASPP)?
Who is executing the share repurchase program for Andean Precious Metals (ANPMF)?
When did Andean Precious Metals' (ANPMF) ASPP commence?
