On
Under the NCIB, common shares may be repurchased in open market transactions on the TSX, and/or other Canadian alternative trading platforms. In accordance with the rules of the TSX governing normal course issuer bids, the total number of common shares the Company is permitted to purchase is subject to a daily purchase limit of 240,702 common shares, representing 25% of the average daily trading volume of common shares on the TSX calculated for the six-month period ended
PrairieSky has entered into an automatic purchase plan with its broker,
PrairieSky currently intends to purchase up to a maximum of 11,600,000 common shares to effect NCIB purchases over the next 12 months. However, the Company’s board of directors may consider, from time to time, applying to the TSX to increase the amount of NCIB purchases. Decisions regarding increases to the NCIB will be based on market conditions, share price, best use of available cash, and other factors including other options to expand our portfolio of royalty assets.
FORWARD-LOOKING STATEMENTS
This press release contains certain forward-looking statements. The use of any of the words "expect", "anticipate", "may", "will", "should", "believe", "intends", and similar expressions are intended to identify forward-looking statements. Forward-looking statements contained in this press release include our expectations with respect to entering into an automatic purchase plan and the dollar value and number of common shares under NCIB purchases to be effected over the next 12 months.
With respect to forward-looking statements contained in this press release, we have made several assumptions including that the common shares will from time to time trade below their value, that the Company will complete purchases of common shares pursuant to the NCIB and those described in detail in our MD&A and the Annual Information Form for the period ended
By their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond our control, including the market price of the common shares being too high to ensure that purchases benefit the Company and its shareholders, impact of general economic conditions, industry conditions, volatility of commodity prices, stock market volatility and failure to execute purchases under the normal course issuer bid. The foregoing and other risks are described in more detail in PrairieSky’s MD&A, and the Annual Information Form for the period ended
Further, any forward-looking statement is made only as of the date of this press release, and PrairieSky undertakes no obligation to update or revise any forward-looking statement or statements to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of unanticipated events, except as required by applicable securities laws. New factors emerge from time to time, and it is not possible for PrairieSky to predict all of these factors or to assess in advance the impact of each such factor on PrairieSky’s business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements.
The forward-looking statements contained in this document are expressly qualified by this cautionary statement.
ABOUT
PrairieSky is a royalty-focused company, generating royalty revenues as petroleum and natural gas are produced from its properties. PrairieSky has a diverse portfolio of properties that have a long history of generating funds from operations and that represent the largest and most concentrated independently-owned fee simple mineral title position in
FOR FURTHER INFORMATION PLEASE CONTACT:
Investor Relations (587) 293-4000 www.prairiesky.com |
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