Verdera Energy Corp. Receives Approval for New Normal Course Issuer Bid
Verdera Energy Corp. (TSXV: V) has received approval from the TSX Venture Exchange to establish a new normal course issuer bid (NCIB). This move follows an administrative oversight where the previous NCIB was calculated based on outdated capitalization figures prior to a significant share distribution involving enCore Energy Corp. The new program allows Verdera to purchase and cancel up to 6,389,047 common shares, representing approximately 9.44% of its adjusted public float. This reset ensures the company's share buyback capacity accurately reflects its expanded capitalization following the conversion of 35,000,000 Class A preferred shares into common shares. Scheduled to commence on or after November 6, 2026, the program will be executed through Haywood Securities Inc. via open market purchases on the TSXV. The initiative aims to manage the company's updated share structure effectively.
Topics: capitalization normal course issuer bid share buyback share cancellation