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Tourmaline Oil Gets TSX Approval to Renew its Normal Course Issuer Bid

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Tourmaline Oil (TOU.TO) on Thursday said it received exchange approval to renew its normal course issuer bid.

The NCIB will allow the company to purchase for cancellation up to around 15.5 million shares, representing 4% of its outstanding shares as of July 31, said the company.

The buyback will begin on Aug. 10 and run for 12 months.

The company did not purchase any of the 19.34-million shares allowed under its expiring NCIB.

The company's shares were last seen up C$0.65 to C$59.79 on the Toronto Stock Exchange.

Price: $59.86, Change: $+0.72, Percent Change: +1.22%

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