Computer Modelling Group Ltd. (TSX: CMG), a Calgary-based energy software and consulting company, announced on September 16, 2026, that the Alberta Securities Commission has granted exemptive relief in connection with its ongoing substantial issuer bid to purchase up to C$20,000,000 in value of its common shares for cancellation. The relief, which applies across all Canadian jurisdictions, modifies certain take-up, proportionate take-up, and disclosure requirements under applicable securities laws. The SIB is structured as a modified Dutch auction with a price range of C$4.00 to C$4.50 per share and remains open until 5:00 PM Eastern time on September 21, 2026.

Key Points

  • Computer Modelling Group Ltd. (TSX: CMG) — Calgary-based energy software and consulting company
  • Alberta Securities Commission granted exemptive relief on September 15, 2026, covering proportionate take-up, related disclosure, and extension take-up requirements
  • SIB targets up to C$20,000,000 in common shares via modified Dutch auction; price range C$4.00–C$4.50 per share; expiry 5:00 PM ET on September 21, 2026
  • Investors will be watching whether CMG elects to extend the SIB beyond the current expiration date

Exemptive Relief Granted by Alberta Securities Commission

The Alberta Securities Commission, acting as CMG's principal regulator, granted the Issuer Bid Relief on September 15, 2026, one day before CMG's public announcement. The relief exempts the company from three specific obligations: proportionate take-up of tendered shares, disclosure of proportionate take-up in the issuer bid circular, and the requirement to take up all deposited shares before extending the bid. The order applies in all Canadian jurisdictions and enables CMG to offer shareholders a Proportionate Tender option, a mechanism not available under standard issuer bid rules without this regulatory accommodation.

Modified Dutch Auction Structure Gives Shareholders Three Tender Choices

CMG's SIB offers participating shareholders three ways to tender their shares. An Auction Tender allows shareholders to specify a price per share within the C$4.00 to C$4.50 range in C$0.10 increments. A Purchase Price Tender accepts the final clearing price determined by auction results without specifying a price. A Proportionate Tender allows shareholders to tender their entire holding at the clearing price while retaining their proportionate ownership stake post-completion. The final Purchase Price will be the lowest price enabling CMG to purchase shares with an aggregate value not exceeding the Auction Tender Limit Amount.

SIB Expiry and Possible Extension Under Consideration

The SIB is currently scheduled to expire at 5:00 PM Eastern time on September 21, 2026. CMG stated it has not yet determined whether it will extend the offer beyond that date. The company indicated it will assess the number of shares tendered and other relevant circumstances before making that decision. Should an extension occur, CMG has committed to issuing a further news release disclosing extension details. National Bank Financial Inc. is acting as financial adviser and dealer manager, while Olympia Trust Company is serving as depositary for the transaction.