Strategic Metals Ltd. Announces New Normal Course Issuer Bid To Succeed The Normal Course Issuer Bid Which Will Expire On December 4, 2023

Rhea-AI Summary

Strategic Metals Ltd. (SMD) Announces New Normal Course Issuer Bid to Acquire Up to 8,500,000 Common Shares

Positive

• Strategic Metals Ltd. is taking steps to capitalize on potential price weaknesses in its shares due to fluctuating global market conditions.
• The company's New Bid will allow it to acquire up to 10% of its public float, representing approximately 8,500,000 common shares.
• The New Bid will be conducted by PI Financial Corp., and shares purchased will be returned to the company's treasury for cancellation.

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / November 28, 2023 / Strategic Metals Ltd. (TSX-V:SMD) ("Strategic") announces that it is making a new Normal Course Issuer Bid (the "New Bid") pursuant to the provisions of TSX Venture Exchange Policy 5.6, to succeed its existing Normal Course Issuer Bid (the "Old Bid") as accepted by the TSX Venture Exchange on November 30, 2022.

Strategic has purchased no shares under the Old Bid, which will expire on December 4, 2023. The New Bid will consist of the acquisition by Strategic of up to 8,500,000 common shares of its capital stock, representing approximately 10% of the "public float" of 85,349,013 common shares upon the date of commencement of the New Bid. (There are currently 110,955,967 common shares of Strategic issued and outstanding.) The New Bid will commence on December 5, 2023, and will expire on December 4, 2024.

Strategic is making the New Bid, to succeed the Old Bid (which was limited to an aggregate of 8,400,000 common shares), because it is of the opinion that fluctuating global market conditions periodically (and currently) may result in unwarranted reductions in Strategic's share price that do not reflect the underlying value of its assets. Strategic will utilize unallocated cash resources to effect purchases under the New Bid with a view to capitalizing on these potential price weaknesses. Shares purchased under the New Bid will be made at Management's discretion based on market conditions, and will be returned to Strategic's treasury for cancellation.

The New Bid will be conducted on behalf of Strategic by PI Financial Corp., of Suite 2500 - 733 Seymour Street, Vancouver, B.C. V6B 0S6.

ON BEHALF OF THE BOARD

"W. Douglas Eaton"

President and Chief Executive Officer

For further information concerning Strategic or its various exploration projects please visit our website at www.strategicmetalsltd.com or contact:

Corporate Information Strategic Metals Ltd. W. Douglas Eaton President and C.E.O. Tel: (604) 688-2568

Investor Inquiries Richard Drechsler V.P. Communications Tel: (604) 687-2522 NA Toll-Free: (888) 688-2522 rdrechsler@strategicmetalsltd.com http://www.strategicmetalsltd.com

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.

This news release may contain forward looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of exploration and other risk factors beyond its control, and actual results may differ materially from the expected results.

SOURCE: Strategic Metals Ltd.

View source version on accesswire.com:
https://www.accesswire.com/810466/strategic-metals-ltd-announces-new-normal-course-issuer-bid-to-succeed-the-normal-course-issuer-bid-which-will-expire-on-december-4-2023

FAQ

What is the latest announcement from Strategic Metals Ltd. (SMD)?

Strategic Metals Ltd. (SMD) has announced a new Normal Course Issuer Bid to acquire up to 8,500,000 common shares.

When will the New Bid commence and expire?

The New Bid will commence on December 5, 2023, and will expire on December 4, 2024.

How many common shares does Strategic Metals Ltd. plan to acquire under the New Bid?

The company plans to acquire up to 8,500,000 common shares, representing approximately 10% of its public float.

Who will be conducting the New Bid on behalf of Strategic Metals Ltd.?

The New Bid will be conducted by PI Financial Corp.

What will happen to the shares purchased under the New Bid?

Shares purchased under the New Bid will be returned to the company's treasury for cancellation.