Major Drilling Announces Normal Course Issuer Bid

Executive Summary

• Major Drilling Group International Inc. received TSX acceptance of its notice to commence a Normal Course Issuer Bid (NCIB) to repurchase up to 4,097,159 common shares (~5% of outstanding shares).
• The NCIB will run for 12 months from Oct 21 2025 to Oct 20 2026, with daily purchase limits tied to 25 % of average daily trading volume.
• Shares repurchased under the program will be cancelled, and an Automatic Share Purchase Plan (ASPP) will be used to facilitate purchases during blackout periods.

Key Details

• NCIB Scope: Up to 4,097,159 common shares (~5 % of 81,943,186 shares outstanding as of Oct 14 2025).
• Program Period: Begins Oct 21 2025, ends Oct 20 2026 (12‑month window).
• Pricing: Purchases will be made at the prevailing market price on each purchase date.
• Daily Purchase Limit: Maximum of 34,457 shares per day, representing 25 % of the average daily trading volume (ADTV) of 137,830 shares for Apr 1 – Sep 30 2025.
• Cancellation: All repurchased shares will be cancelled, reducing total share count.
• ASPP Arrangement: An automatic share purchase plan with a designated broker will allow purchases during periods when the company is otherwise restricted (e.g., blackout periods). The broker may act at its discretion within parameters set by Major Drilling.
• Strategic Rationale: Management believes the market price does not always reflect underlying value; repurchasing shares aims to increase proportional ownership for remaining shareholders and enhance shareholder value.

Notable Quotes

(No direct quotes were provided in the release.)