TORONTO, Jan. 29, 2025 (GLOBE NEWSWIRE) -- Voyageur Mineral Explorers Corp. ("Voyageur” or the "Company”) (CSE: VOY) is pleased to announce its intention to commence a normal course issuer bid (the "NCIB”), under which it may purchase up to an aggregate of 1,613,419 common shares of the Company ("Common Shares"), representing approximately 5% of the 32,268,397 issued and outstanding Common Shares.
The Company may purchase Common Shares under the NCIB over a 12-month period beginning on February 4, 2025, and ending on February 3, 2026. All Common Shares purchased under the NCIB will be purchased on the open market through the facilities of the Canadian Securities Exchange (the "CSE”) at the prevailing market price of the Common Shares at the time of purchase and in accordance with the policies of the CSE and applicable Canadian securities laws.
The Company will fund the purchases of Common Shares under the NCIB with cash on hand. The exact timing and amount of any purchases of Common Shares made pursuant to the NCIB will depend on market conditions and other factors. The Company is not obligated to acquire any Common Shares and may suspend or discontinue purchases under the NCIB at any time. Any Common Shares purchased by the Company under the NCIB will be cancelled upon their purchase.
Subject to the maximum number of Common Shares which may be purchased under the NCIB, the Company may purchase under the NCIB up to such number of Common Shares equal to 2.0% of its issued and outstanding Common Shares over any 30-trading day period.
The Company intends to commence the NCIB as it believes that the market price of the Common Shares may not fully reflect the value of its business and prospects, and as such it believes that purchasing its own Common Shares for cancellation is an appropriate strategy for increasing long-term shareholder value and represents an appropriate use of the Company's financial resources.
The Company has appointed Leede Financial Inc. to co-ordinate and facilitate the NCIB transactions on its behalf.
About Voyageur Mineral Explorers Corp.
Voyageur is a Canadian junior mineral exploration company with a specific focus on mineral properties in Northwest Manitoba and Northeast Saskatchewan, Canada. The Company owns a valuable package of royalties in the prolific Flin Flon greenstone belt, and has assembled a portfolio of base metal and precious metal prospects in Manitoba and Saskatchewan.
For further information, please contact:
Fraser Laschinger
President and CEO
Voyageur Mineral Explorers Corp.
Tel: (416) 628-5910
Forward-Looking Information
This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws including, but not limited to, statements with respect to the timing of the commencement and cessation of the NCIB, the means by which the Company will fund the purchases of Common Shares pursuant to the NCIB, and the Company's belief that purchasing its Common Shares under the NCIB is an appropriate strategy for increasing long-term shareholder value and represents an appropriate use of the Company's financial resources. The use of any of the words "expect”, "anticipate”, "continue”, "estimate”, "objective”, "ongoing”, "may”, "will”, "project”, "should”, "believe”, "plans”, "intends” and similar expressions are intended to identify forward-looking information or statements. The forward-looking statements and information are based on certain key expectations and assumptions made by the Company. Although the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because the Company can give no assurance that they will prove to be correct.
Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. Factors which could materially affect such forward-looking information are described in the risk factors in the Company's most recent annual management's discussion and analysis that is available on the Company's profile on SEDAR+ at www.sedarplus.ca. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward-looking statements included in this press release are expressly qualified by this cautionary statement. The forward-looking statements and information contained in this press release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this news release.
