Microbix Announces Initiation of Normal Course Issuer Bid

Core Viewpoint - Microbix Biosystems Inc. has announced a Normal Course Issuer Bid (NCIB) program to repurchase up to 5% of its outstanding shares over a 12-month period, starting December 9, 2025, and ending December 8, 2026 [1][2][3]. Summary by Sections NCIB Program Details - The NCIB allows Microbix to repurchase up to 6,949,346 common shares, which is approximately 5% of the 138,986,931 shares outstanding as of November 26, 2025 [2]. - Repurchases will occur through the Toronto Stock Exchange (TSX) and alternative trading systems, with the actual number of shares repurchased determined by management [2][3]. - The maximum number of shares that can be repurchased in one day is set at 20,339, which is 25% of the average daily trading volume (ADTV) of 81,357 shares over the past six months [4]. Previous NCIB Performance - In the previous NCIB from December 9, 2024, Microbix sought approval to purchase up to 6,726,560 shares and successfully repurchased 3,661,581 shares at a volume-weighted average price of $0.369 [4]. Funding and Management Strategy - The repurchases will be financed from working capital, and all repurchased shares will be cancelled [5]. - Microbix has established a predefined automatic securities purchase plan with Ventum Financial Corp. to facilitate repurchases during internal trading blackout periods [5]. Board of Directors' Perspective - The Board believes that the current market price does not reflect the underlying value of Microbix, making the share repurchase an appropriate use of corporate funds [6]. - The NCIB is expected to benefit shareholders by increasing their proportionate equity interest as shares are cancelled [6]. Company Overview - Microbix Biosystems Inc. specializes in creating proprietary biological products for human health, generating revenues of C$ 25.4 million in its latest fiscal year [8]. - The company produces critical ingredients for the global diagnostics industry, including antigens for immunoassays and laboratory quality assessment products [8][10].