TerraVest Industries (TVK.TO) said Wednesday it received approval from the Toronto Stock Exchange to launch a normal course issuer bid to repurchase and cancel up to 1.5-million of its shares.
Purchases under the bid may commence on Aug. 24 and runs for up to 12 months.
Under its current NCIB, which expires on Aug.21, the company repurchased 260,000 shares of the 1.56-mllion allowed.
Shares of the company closed down C$0.29 to C$117.70 on Toronto Stock Exchange.