Parex Resources Announces Approval of Normal Course Issuer Bid and Automatic Share Purchase Plan

Core Viewpoint - Parex Resources Inc. has received approval from the Toronto Stock Exchange to initiate a normal course issuer bid to repurchase up to 9,407,490 common shares, which represents 10% of the public float as of January 9, 2026 [1][2][3]. Group 1: Bid Details - The issuer bid will commence on January 22, 2026, and will terminate on January 21, 2027, unless completed or terminated earlier by the company [2]. - The daily maximum number of shares that can be purchased is 146,890, which is 25% of the average daily trading volume of 587,563 from July 1, 2025, to December 31, 2025 [3]. - Shares will be purchased at the prevailing market price on the TSX and will be cancelled upon acquisition [3]. Group 2: Rationale for the Bid - The company believes that its common shares are trading below their intrinsic value relative to current operations and growth prospects, and that repurchasing shares will benefit remaining shareholders by increasing their proportional interest [5]. - As of January 9, 2026, Parex had 95,974,136 common shares issued and outstanding, with a public float of 94,074,906 common shares [5]. Group 3: Previous Issuer Bid - Under a previous normal course issuer bid, Parex was approved to purchase 8,621,348 common shares from January 22, 2025, to January 21, 2026, and had purchased 2,310,000 shares at a weighted-average price of C$15.371 per share during that period [6].