Nickel 28 Announces Share Buyback Purchases Under Normal Course Issuer Bid
Nickel 28 Capital Corp. (TSXV: NKL) has announced the purchase of 129,500 common shares for C$91,070 under its TSXV-approved normal course issuer bid (NCIB) up to September 6, 2024. Since August 9, 2024, a total of 359,500 shares have been bought back. The company views this as the best use of capital in the current challenging nickel and cobalt price environment, aiming to create shareholder value by reducing outstanding shares. Purchases are made on the open market through the TSXV or alternative Canadian trading systems. An automatic purchase plan has been implemented to allow share buybacks during blackout periods. As of September 6, 2024, Nickel 28 had 89,842,222 common shares issued and outstanding.
Nickel 28 Capital Corp. (TSXV: NKL) ha annunciato l'acquisto di 129.500 azioni ordinarie per C$91.070 nell'ambito del suo programma di acquisto azionario approvato dal TSXV (NCIB) fino al 6 settembre 2024. Dal 9 agosto 2024, sono state riacquistate 359.500 azioni. L'azienda considera questo come il miglior utilizzo del capitale nell'attuale difficile contesto dei prezzi del nichel e del cobalto, con l'obiettivo di creare valore per gli azionisti riducendo le azioni in circolazione. Gli acquisti vengono effettuati sul mercato aperto attraverso il TSXV o altri sistemi di trading canadese alternativi. È stato implementato un piano di acquisto automatico per consentire il riacquisto delle azioni durante i periodi di blackout. Al 6 settembre 2024, Nickel 28 aveva 89.842.222 azioni ordinarie emesse e in circolazione.
Nickel 28 Capital Corp. (TSXV: NKL) ha anunciado la compra de 129,500 acciones ordinarias por C$91,070 bajo su oferta de compra de emisión normal aprobada por TSXV (NCIB) hasta el 6 de septiembre de 2024. Desde el 9 de agosto de 2024, se han recomprado un total de 359,500 acciones. La empresa considera esto como el mejor uso del capital en el actual entorno desafiante de precios del níquel y cobalto, con el objetivo de crear valor para los accionistas mediante la reducción de acciones en circulación. Las compras se realizan en el mercado abierto a través del TSXV o sistemas de negociación canadienses alternativos. Se ha implementado un plan de compra automática para permitir la recompra de acciones durante los períodos de bloqueo. A partir del 6 de septiembre de 2024, Nickel 28 tenía 89,842,222 acciones ordinarias emitidas y en circulación.
니켈 28 캐피탈 Corp. (TSXV: NKL)은 2024년 9월 6일까지 TSXV에서 승인한 정상적 발행인 요구 조치(NCIB) 아래 129,500주의 보통주를 C$91,070에 구매했다고 발표했습니다. 2024년 8월 9일 이후 총 359,500주가 재매입되었습니다. 이 회사는 현재 어려운 니켈 및 코발트 가격 환경에서 자본을 최적으로 사용하고자 하며, 발행주식을 줄여 주주 가치를 창출하는 것을 목표로 하고 있습니다. 구매는 TSXV 또는 대체 캐나다 거래 시스템을 통해 열린 시장에서 이루어집니다. 자동 구매 계획이 시행되어 블랙아웃 기간 동안 주식 재매입이 가능하게 되었습니다. 2024년 9월 6일 기준으로 니켈 28은 89,842,222주의 보통주가 발행되어 유통되고 있었습니다.
Nickel 28 Capital Corp. (TSXV: NKL) a annoncé l'achat de 129,500 actions ordinaires pour C$91,070 dans le cadre de son offre de rachat d'actions approuvée par le TSXV (NCIB) jusqu'au 6 septembre 2024. Depuis le 9 août 2024, un total de 359,500 actions a été racheté. La société considère cela comme la meilleure utilisation du capital dans l'environnement actuel difficile des prix du nickel et du cobalt, visant à créer de la valeur pour les actionnaires en réduisant le nombre d'actions en circulation. Les achats sont effectués sur le marché libre par le biais du TSXV ou d'autres systèmes de négociation canadiens alternatifs. Un plan d'achat automatique a été mis en place pour permettre des rachats d'actions pendant les périodes de verrouillage. Au 6 septembre 2024, Nickel 28 avait 89,842,222 actions ordinaires émises et en circulation.
Nickel 28 Capital Corp. (TSXV: NKL) hat den Kauf von 129.500 Stammaktien für C$91.070 unter seinem von der TSXV genehmigten normalen Eigenemissionsangebot (NCIB) bis zum 6. September 2024 angekündigt. Seit dem 9. August 2024 wurden insgesamt 359.500 Aktien zurückgekauft. Das Unternehmen betrachtet dies als die beste Kapitalnutzung in der derzeit schwierigen Preisumgebung für Nickel und Kobalt, mit dem Ziel, den Aktionärswert durch die Reduzierung ausstehender Aktien zu steigern. Die Käufe erfolgen am offenen Markt über die TSXV oder alternative kanadische Handelssysteme. Ein automatischer Kaufplan wurde implementiert, um Aktienrückkäufe während der Sperrfristen zu ermöglichen. Am 6. September 2024 hatte Nickel 28 89.842.222 Stammaktien ausgegeben und im Umlauf.
- Reduction of outstanding shares, potentially increasing shareholder value
- Implementation of an automatic purchase plan for consistent buybacks
- Strategic use of capital in a challenging market environment
- Challenging nickel and cobalt price environment affecting the company
- Allocation of C$91,070 for share buybacks instead of other potential investments
Toronto, Ontario--(Newsfile Corp. - September 10, 2024) - Nickel 28 Capital Corp. (TSXV: NKL) (FSE: 3JC0) ("Nickel 28" or the "Company") is pleased to announce that under the Company's TSX Venture Exchange (the "TSXV") approved normal course issuer bid ("NCIB"), it has purchased 129,500 Nickel 28 common shares, for aggregate consideration of C
"We are pleased to announce the share buyback of Nickel 28 common shares, up to September 6, 2024," stated Christopher Wallace, President & Chief Executive Officer of the Company. "It is still our view that the best use of capital in this difficult nickel and cobalt price environment, is to lower the share capital issued and outstanding by utilizing the NCIB, as an on-going first step to creating shareholder value in a difficult market," he said.
All common shares purchased by Nickel 28 under the NCIB have been purchased on the open market through the facilities of the TSXV or alternative Canadian trading systems, in open market transactions or by such other means as may be permitted under applicable securities laws. The actual number of common shares which may be purchased, and the timing of such purchases, will be determined by Nickel 28. Decisions regarding purchases will be based on market conditions, share price, best use of available cash, and other factors as determined by the Board from time to time. Nickel 28 has implemented an automatic purchase plan which will allow for the purchase for cancellation of common shares, subject to certain trading parameters, by Haywood Securities Inc. during times when Nickel 28 would ordinarily not be active in the market due to applicable securities regulatory restrictions or self-imposed blackout periods. Outside of these periods, the common shares will be repurchased by Nickel 28 at its discretion under the NCIB.
As of September 6, 2024, the Company had 89,842,222 common shares issued and outstanding and the recent NCIB purchases in this release are not reflected in the above number.
About Nickel 28
Nickel 28 Capital Corp. is a nickel-cobalt producer through its
Cautionary Note Regarding Forward-Looking Statements
This news release contains certain information which constitutes 'forward-looking statements' and 'forward-looking information' within the meaning of applicable Canadian securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "expect", "potential", "believe", "intend" or the negative of these terms and similar expressions. Forward-looking statements in this news release include, but are not limited to: statements with respect to the NCIB and related automatic share purchase plan (including relating to the number of common shares to be repurchased); statements with respect to the net asset value of the Company; and statements with respect to the business and assets of Nickel 28 and its strategy going forward. Forward-looking statements involve known and unknown risks and uncertainties, most of which are beyond the Company's control. Should one or more of the risks or uncertainties underlying these forward-looking statements materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results, performance or achievements could vary materially from those expressed or implied by the forward-looking statements.
The forward-looking statements contained herein are made as of the date of this release and, other than as required by applicable securities laws, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. The forward-looking statements contained in this release are expressly qualified by this cautionary statement.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No securities regulatory authority has either approved or disapproved of the contents of this news release.
Investor Relations Contact Information:
Nickel 28 Investor Relations
Attn: Brett A. Richards, Director
Tel: +1 905 449 1500
Email: info@nickel28.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/222799
FAQ
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