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Highlights

  • NCIB permits repurchase of up to 45,776,656 shares over 12 months starting June 3, 2025.
  • Daily TSX purchase capped at 163,942 shares, with weekly block purchases allowed.
  • Shares may be repurchased on TSX, AIM, and eligible Canadian alternative trading systems.

PetroTal Corp. (TSX: TAL) (AIM: PTAL) (OTCQX: PTALF) has received approval from the Toronto Stock Exchange to renew its normal course issuer bid (“NCIB”) allowing the repurchase of up to 45,776,656 common shares, representing approximately 5% of its issued and outstanding shares as of May 26, 2025.

The renewed NCIB period will run from June 3, 2025, through June 2, 2026. The program provides PetroTal with a mechanism to repurchase shares on the open market at prevailing prices through the TSX, AIM market operated by the London Stock Exchange, and other eligible Canadian alternative trading platforms.

PetroTal is authorized under TSX regulations to repurchase a maximum of 163,942 common shares per day on the TSX, based on 25% of the average daily trading volume over the past six months, which totaled 655,771 shares. Additionally, the company may execute one block purchase per calendar week that exceeds this daily limit.

Shares acquired under the NCIB will either be cancelled or held temporarily in treasury for use in fulfilling employee share award obligations, consistent with applicable securities laws.

The actual number and timing of share repurchases will be determined by PetroTal’s management based on market conditions and corporate objectives. The company noted that at times the market price of its common shares may not fully reflect underlying value, and repurchases could be a tool to improve per-share metrics over time.

PetroTal’s NCIB renewal aligns with regulatory requirements and follows prior programs, though no specific repurchase targets or schedules have been announced at this time. Further updates will be disclosed if and when repurchases are made under this renewed bid.