Base Carbon Announces Renewal of Normal Course Issuer Bid

Core Viewpoint - Base Carbon Inc. has announced the renewal of its normal course issuer bid (NCIB) to repurchase up to 6,659,310 common shares, reflecting the company's strategy to enhance shareholder value and manage its capital effectively [1][5]. Summary by Sections NCIB Details - The renewed NCIB program will commence on June 23, 2025, and will last for 12 months, concluding on June 22, 2026 [3]. - Under the current NCIB, as of June 17, 2025, the company has repurchased 7,127,736 shares at an average price of $0.4722, which is 94.1% of the authorized 7,571,314 shares [2]. - Since the initiation of its share repurchase strategy, the company has bought back a total of 19,245,694 shares at an average price of $0.4567, resulting in a 15.1% reduction in shares outstanding since June 17, 2022 [2]. Purchase Mechanics - The company may purchase up to 69,082 shares on any given day during the new NCIB, which is 25% of the average daily trading volume of 276,330 shares over the past six months [3]. - Block trades for a greater number of shares may occur once per calendar week [3]. - Purchases will be conducted in accordance with Cboe Canada's rules and will be returned to treasury for cancellation [4]. Strategic Rationale - The Board of Directors believes that the market price of the shares may not reflect the underlying value of Base Carbon, including its growth opportunities, and that the share repurchase is in the best interests of the company [5]. - An automatic share purchase plan (ASPP) has been established to facilitate repurchases during periods when the company cannot trade due to insider trading rules [6]. Company Overview - Base Carbon is focused on financing projects in the global voluntary carbon markets, aiming to be a preferred partner in carbon removal and abatement projects [7].