Tartisan Nickel Corp. Announces Intention to Commence Normal Course Issuer Bid to Repurchase Up To 5% Of Its Common Shares

Rhea-AI Summary

Tartisan Nickel Corp. (CSE:TN, OTC PINK:TTSRF) announced plans to initiate a normal course issuer bid (NCIB) to repurchase up to 5,246,456 common shares, equating to about 5% of outstanding shares. The buyback aims to enhance shareholder value, reflecting the company's belief that its underlying asset, the Kenbridge Nickel Project, is undervalued in the market. The NCIB is scheduled to begin on March 17, 2021, and conclude on March 17, 2022. Purchases will occur on the Canadian Securities Exchange at prevailing market prices, with shares acquired expected to be cancelled.

Positive

• Commencing a share buyback of up to 5,246,456 shares, which could enhance shareholder value.
• Belief that the Kenbridge Nickel Project's value is not reflected in the current share price, indicating potential upside.

Negative

• None.

TORONTO, ON / ACCESSWIRE / March 10, 2021 / Tartisan Nickel Corp. (CSE:TN)(OTC PINK:TTSRF)(FSE:A2D) ("Tartisan", or the "Company") announces its intention to commence a normal course issuer bid ("NCIB"), under which the Company may purchase up to 5,246,456 of the Company's common shares, representing approximately 5% of the issued and outstanding common shares of the Company.

Tartisan is commencing the "NCIB" because it believes that the underlying value of the Kenbridge Nickel Project, along with the Company's portfolio holdings, are not adequately reflected in the market price of its common shares. Tartisan Nickel Corp. believes that the repurchase of its common shares for cancellation represents an appropriate use of the Company's financial resources and will enhance shareholder value.

The "NCIB" is expected to commence on March 17, 2021 and terminate on March 17, 2022. All common shares purchased under the "NCIB" will be purchased on the open market through the facilities of the Canadian Securities Exchange (the "CSE") and/or alternative trading systems. All purchases made under the "NCIB" will be at the prevailing market price for the common shares at the time of purchase. Common shares acquired by the Company under the "NCIB" will be cancelled. Tartisan Nickel Corp. has appointed Independent Trading Group (ITG) Limited as its broker to conduct the "NCIB" purchases on its behalf.

About Tartisan Nickel Corp.

Tartisan Nickel Corp. is a Canadian based mineral exploration and development company which owns; the Kenbridge Nickel Project in Northwestern Ontario, the Sill Lake Lead-Silver Project in Sault St. Marie, Ontario as well as the Don Pancho Manganese-Zinc-Lead-Silver Project in Peru.

The Company has an equity stake in; Eloro Resources Limited, Class 1 Nickel & Technologies Limited, Peruvian Metals Corp. and Silver Bullet Mines Inc.

Tartisan Nickel Corp.'s common shares are listed on the Canadian Securities Exchange (CSE:TN; US-OTC:TTSRF; FSE:A2D). Currently, there are 104,929,132 shares outstanding (110,954,714 fully diluted).

For further information, please contact Mark Appleby, President & CEO and a Director of the Company, at 416-804-0280 (info@tartisannickel.com). Additional information about Tartisan Nickel Corp. can be found at the Company's website at www.tartisannickel.comor on SEDAR at www.sedar.com.

This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.

SOURCE: Tartisan Nickel Corp.

View source version on accesswire.com:
https://www.accesswire.com/634613/Tartisan-Nickel-Corp-Announces-Intention-to-Commence-Normal-Course-Issuer-Bid-to-Repurchase-Up-To-5-Of-Its-Common-Shares

FAQ

What is the purpose of Tartisan Nickel Corp.'s NCIB?

The NCIB is intended to repurchase common shares to enhance shareholder value, as the company believes the market undervalues its assets.

How many shares is Tartisan Nickel Corp. planning to buy back?

Tartisan Nickel Corp. plans to repurchase up to 5,246,456 common shares, representing approximately 5% of its outstanding shares.

When does Tartisan Nickel Corp.'s NCIB start and end?

The NCIB is expected to commence on March 17, 2021, and terminate on March 17, 2022.

Where will Tartisan Nickel Corp.'s share repurchases occur?

The share repurchases will be conducted on the Canadian Securities Exchange and/or alternative trading systems.

What will happen to the shares bought back by Tartisan Nickel Corp.?

All shares acquired under the NCIB will be cancelled after their repurchase.