Imperial Metals Receives TSX Approval for Normal Course Issuer Bid
Imperial Metals (III.TO) after trade Monday said the Toronto Stock Exchange has approved a normal course issuer bid allowing the company to repurchase up to 890,855 common shares, or about 0.5% of its outstanding shares, between May 28, 2026, and May 27, 2027.The company added that the shares will be purchased through the TSX or other Canadian trading systems at prevailing market prices, subject to daily purchase limits under TSX rules."The common shares acquired under the bid will be used to satisfy the company's obligations under its Non-Management Directors' Plan and Amended and Restated Share Purchase Plan. The funding for any purchase pursuant to the bid will be financed out of the working capital of the company," Imperial Metals said.Over the past 12 months, Imperial repurchased 166,500 shares at $6.08 per share under its previous buyback program. The earlier bid allowed the company to repurchase up to 814,089 shares, according to the statement.