Wesdome Gold Mines Announces Normal Course Issuer Bid

Core Viewpoint - Wesdome Gold Mines Ltd. has announced the initiation of a Normal Course Issuer Bid (NCIB) to repurchase up to 2% of its public float over the next 12 months, pending approval from the Toronto Stock Exchange (TSX) [1][3]. Group 1: NCIB Details - The NCIB will allow Wesdome to repurchase a maximum of 2% of its public float, which translates to approximately 3,013,315 shares, over a 12-month period [3]. - As of October 16, 2025, Wesdome had 150,969,214 issued and outstanding shares, with a daily maximum purchase limit of 182,093 shares based on the average daily trading volume [3]. - The purchases will be made at market price and any shares acquired will be cancelled upon purchase [4]. Group 2: Financial Position and Strategy - The introduction of the NCIB reflects Wesdome's strong balance sheet, characterized by no debt and a growing cash position, allowing for both high-return growth initiatives and capital returns to shareholders [2]. - The board believes that the NCIB is an appropriate use of available liquidity after funding strategic growth initiatives, aimed at enhancing per-share value [2]. Group 3: Operational Context - Wesdome is a Canadian-focused gold producer with two high-grade underground assets: the Eagle River mine in Ontario and the Kiena mine in Quebec [5]. - The company's primary goal is to leverage its operating platform and exploration pipeline to build a value-driven Canadian gold producer [5].