Medexus Announces Normal Course Issuer Bid, or NCIB, for Its Common SharesNovember 20, 2025 7:30 AM EST | Source: Medexus Pharmaceuticals Inc.Toronto, Ontario and Chicago, Illinois--(Newsfile Corp. - November 20, 2025) - Medexus Pharmaceuticals (TSX: MDP) (OTCQX: MEDXF) is pleased to announce that the Toronto Stock Exchange has accepted Medexus's notice of intention to make a normal course issuer bid, or NCIB, for its common shares (TSX: MDP). Under the NCIB, Medexus may purchase for cancellat ...

Core Viewpoint - Triple Flag Precious Metals Corp. has received approval from the Toronto Stock Exchange to renew its normal course issuer bid, allowing the company to repurchase up to 10,328,075 common shares over a one-year period [1][2]. Summary by Sections Normal Course Issuer Bid (NCIB) - The NCIB allows Triple Flag to buy back up to 10,328,075 common shares, which is 5% of the total 206,561,506 shares outstanding as of November 3, 2025 [2]. - The repurchase period will start on November 17, 2025, and end on November 16, 2026 [2]. Rationale for NCIB - The company believes that repurchasing its common shares can be a suitable use of available funds and a mechanism for returning capital to shareholders [3]. Purchase Mechanism - Purchases may occur through the TSX, NYSE, and other trading systems, with daily repurchases on the TSX limited to a maximum of 43,278 shares, which is 25% of the average daily trading volume [4]. - All repurchased shares will be cancelled [4]. Pricing and Payment - Shares will be purchased at market price or as permitted by the TSX, with private agreement purchases potentially at a discount [5]. Automatic Share Purchase Plan (ASPP) - Triple Flag has established an ASPP with a designated broker to facilitate share purchases during regulatory restrictions and blackout periods [6][7]. Management Discretion - Outside of predetermined blackout periods, share purchases will be at the discretion of management, adhering to TSX rules and applicable laws [8]. Previous NCIB Performance - In the previous NCIB from November 15, 2024, to November 14, 2025, Triple Flag repurchased 692,600 shares at an average cost of C$23.36 per share, totaling approximately C$11.4 million [11]. Company Overview - Triple Flag is a precious metals streaming and royalty company, providing exposure to gold and silver from 239 assets, including 33 producing mines and 206 development and exploration projects [12].

Core Viewpoint - Trican Well Service Ltd. has received approval from the Toronto Stock Exchange to renew its normal course issuer bid, allowing the company to repurchase up to 18,405,613 common shares, which is 10% of its public float as of September 22, 2025 [1]. Group 1: NCIB Details - The NCIB will be effective from October 5, 2025, to October 4, 2026, or until it is completed or terminated by the company [1]. - As of September 22, 2025, Trican had 212,231,345 common shares issued and outstanding, with a public float of 184,056,131 shares [1]. - The company is subject to a daily purchase limit of 131,393 common shares, which is 25% of the average daily trading volume of 525,572 shares over the past six months [2]. Group 2: Purchase Mechanism - Trican may execute one block purchase per calendar week that exceeds the daily purchase limit [2]. - All shares repurchased through the NCIB will be returned to treasury for cancellation and will be purchased at the prevailing market price [2]. Group 3: Automatic Securities Purchase Plan - The company plans to establish an automatic securities purchase plan with a designated broker to facilitate share repurchases during regulatory restrictions or blackout periods [3]. Group 4: Previous NCIB Performance - Under the previous NCIB program (2024-2025), Trican repurchased 13,187,215 common shares for a total of $56.4 million at an average price of $4.27 per share, which is 69% of the maximum allowable shares under that program [4]. - Since initiating its NCIB strategy in 2017, Trican has repurchased 177 million common shares, approximately 51% of the shares outstanding at that time [5]. Group 5: Shareholder Returns Strategy - Providing returns to shareholders is a core strategy for Trican, which views investment in the NCIB program as an effective method for delivering shareholder returns [6]. - The company is committed to maintaining a financially prudent capital structure while managing the NCIB program according to its financial position and results [6].

Core Viewpoint - Russel Metals Inc. has received approval for a normal course issuer bid (NCIB) to repurchase up to 5,542,173 common shares, representing 10% of the public float, from August 18, 2025, to August 17, 2026 [1][2]. Group 1: NCIB Details - The NCIB allows Russel Metals to purchase up to 5,542,173 common shares, which is 10% of the public float, with a total of 55,988,355 common shares outstanding as of August 11, 2025 [2]. - Daily purchases under the NCIB will be limited to 37,951 common shares, which is 25% of the average daily trading volume of 151,807 shares for the six months ending July 31, 2025 [3]. - The NCIB will be funded using existing cash resources or credit facilities, and any repurchased shares will be cancelled [3]. Group 2: Previous NCIB - The new NCIB follows the previous one, which authorized the purchase of 5,808,254 common shares, of which 2,389,419 shares were repurchased at a weighted average price of $40.25 per share as of July 31, 2025 [4]. Group 3: Strategic Intent - The company believes the NCIB will serve as a flexible tool in its capital allocation program, aimed at generating value for shareholders [5]. - Future repurchase decisions will depend on market conditions, share price, and other investment opportunities [5]. Group 4: Company Overview - Russel Metals is one of the largest metals distribution companies in North America, focusing on value-added processing across three segments: metals service centers, energy field stores, and steel distributors [6]. - The company offers a wide range of metal products, including carbon hot rolled and cold finished steel, stainless steel, aluminum, and other non-ferrous specialty metals [6].

Core Viewpoint - Firm Capital Property Trust ("FCPT") has announced its intention to initiate a normal course issuer bid (NCIB) to repurchase up to 3,266,775 trust units, representing 10% of the public float, over a 12-month period starting August 5, 2025 [1][2][4]. Summary by Sections NCIB Details - The NCIB will allow FCPT to purchase trust units through the TSX and alternative Canadian Trading Systems, with the total number of units to be repurchased capped at 3,266,775 [2]. - The purchases will be made at market price, with a daily limit of 6,216 trust units, excluding block purchases [2]. - All repurchased units will be cancelled [2]. Trust Units Information - As of July 28, 2025, FCPT had 36,925,682 outstanding trust units, with a public float of 32,667,751 trust units [3]. - The average daily trading volume on the TSX from January 1, 2025, to June 30, 2025, was 24,867 trust units [2]. Investment Rationale - FCPT believes that its trust units may trade below their intrinsic value, making them an attractive investment opportunity [4]. - The repurchase of trust units is expected to enhance the equity interest of remaining unitholders [4]. Previous NCIB - In a prior NCIB, FCPT received approval to purchase up to 3,281,995 trust units from July 18, 2024, to July 17, 2025, but did not execute any repurchases [5]. Company Overview - Firm Capital Property Trust focuses on long-term value creation for unitholders through capital preservation and disciplined investing, aiming to build a diversified property portfolio [6]. - The Trust engages in both standalone and joint acquisitions, partnering with strong financial entities to manage investments effectively [6].

Core Insights - Freehold Royalties Ltd. reported record production levels in Q1-2025, achieving 16,248 boe/d, marking a 10% increase year-over-year [3][11] - The company generated $91 million in revenue and $68 million in funds from operations, translating to $0.42 per share [9][11] - The U.S. operations contributed significantly, with 54% of revenue and 43% of production, driven by premium pricing and higher liquids weighting [3][4] Financial Performance - Revenue for Q1-2025 was $91 million, an 18% increase from the previous quarter and a 23% increase year-over-year [11] - Funds from operations totaled $68 million, up from $61 million in Q4-2024 and $54 million in Q1-2024 [9][11] - The average realized price was $59.29/boe, reflecting a 9% increase from Q4-2024 and an 8% increase from Q1-2024 [11][29] Production and Operations - Total liquids production reached 10,635 bbls/d, an 8% increase from the previous quarter and a 15% increase year-over-year [9][11] - The company maintained its production guidance for 2025 at 15,800 to 17,000 boe/d [6] - A total of 322 gross wells were drilled in Q1-2025, a 12% increase from the previous quarter, with 71% of drilling focused in the U.S. [12][17] Leasing and Acquisitions - Freehold signed 25 new leases in Q1-2025, generating $3.9 million in revenue, with a record $3.3 million from U.S. leases [9][19] - The company completed $13.8 million in land purchases, including $11 million in high-quality undeveloped mineral title lands [11] Dividend and Capital Management - The board declared a monthly dividend of $0.09 per share, with a payout ratio of 65% for Q1-2025 [7][21] - Net debt at the end of Q1-2025 was $272.2 million, reduced by $10.1 million compared to year-end 2024 [21][9] - The company plans to implement a Normal Course Issuer Bid (NCIB) to acquire up to 10% of its issued shares [22][24]