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Highlights

  • Imperial Metals receives TSX approval for a new normal course issuer bid to repurchase up to 814,089 common shares.
  • Repurchases may begin on May 28, 2025, and continue until May 27, 2026, subject to market conditions.
  • Acquired shares will be used to fulfill obligations under the company’s Non-Management Directors’ Plan and Share Purchase Plan.

Imperial Metals Corporation (TSX: III) is a Vancouver-based mining company engaged in exploration, development, and operations in British Columbia. Its asset portfolio includes full ownership of the Mount Polley and Huckleberry mines, and a 30% joint venture interest in the Red Chris mine, which is operated in partnership with Newcrest Mining (now part of Newmont Corporation).

The company’s activities are concentrated in the base and precious metals sectors, with a focus on copper and gold. Imperial’s operating model includes both standalone project ownership and strategic joint ventures.

The company has announced that the Toronto Stock Exchange (TSX) has approved its intention to initiate a normal course issuer bid (NCIB), allowing the company to repurchase a portion of its common shares from the open market. The bid, which begins May 28, 2025, and remains active until no later than May 27, 2026, permits the company to buy back up to 814,089 common shares—representing approximately 0.5% of its total issued and outstanding shares as of May 22, 2025.

The repurchases may occur through the facilities of the TSX or alternative Canadian trading platforms and will be carried out at prevailing market prices. Daily repurchases under the NCIB will be limited to 12,792 shares, equivalent to 25% of the company’s average daily trading volume of 51,168 shares on the TSX, unless otherwise permitted under TSX policies.

Shares repurchased under this program will be allocated to fulfill obligations under Imperial’s Non-Management Directors’ Plan and its Amended and Restated Share Purchase Plan. The company has stated that funding for these purchases will be sourced from its existing working capital.

This latest NCIB follows a similar program conducted over the past 12 months, during which Imperial Metals repurchased 217,504 common shares at a volume-weighted average price of CAD 2.37. Under that prior plan, the TSX had approved a maximum repurchase limit of 809,357 shares. Like the current initiative, the repurchased shares were or will be used in connection with the company’s internal share-based plans.