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Olive Resource Capital Announces TSXV Approval of Normal Course Issuer Bid
Newsfile· 2025-08-28 11:00
Core Viewpoint - Olive Resource Capital Inc. has received approval for a normal course issuer bid program to repurchase up to 8,321,280 common shares, representing approximately 10% of its public float, due to the belief that the market price may not reflect the underlying value of the business [1][2][3]. Group 1 - The bid will commence on September 3, 2025, and terminate on September 2, 2026, unless the maximum number of shares is repurchased earlier [3]. - The company currently has 106,144,709 common shares issued and outstanding [3]. - The repurchase will be conducted using existing working capital and will comply with TSXV rules [4]. Group 2 - Canaccord Genuity Corp. has been engaged as the broker for the bid [5]. - A previous normal course issuer bid allowed the purchase of up to 10,153,620 common shares, with 3,030,000 shares repurchased at a weighted average price of $0.029 per share [5]. - Olive Resource Capital Inc. is a resource-focused merchant bank and investment company with investments in natural resource companies at various development stages [6].