Andean Precious Metals Announces Normal Course Issuer Bid and Automatic Securities Purchase Plan
Andean Precious Metals Corp. announced that the Toronto Stock Exchange (TSX) has accepted its notice of intention to conduct a Normal Course Issuer Bid (NCIB) for its outstanding common shares. The bid allows the company to purchase up to 4,000,000 common shares, representing approximately 2.65% of the 151,025,419 issued and outstanding common shares as of June 22, 2026. This limit is well below the maximum of 7,551,270 shares, or 5% of issued and outstanding shares, permitted under TSX rules.
The NCIB is valid for a 12-month period commencing July 2, 2026, and ending no later than July 1, 2027. Shares will be purchased at prevailing market prices at the time of acquisition, plus brokerage fees. Daily purchases are limited to 141,006 common shares, excluding block purchase exceptions. All common shares purchased under the NCIB will be cancelled. Desjardins Capital Markets has been engaged as the designated broker for the NCIB.
The company is not obligated to make any purchases and may suspend or discontinue the bid at any time. No director, senior officer, or insider currently intends to sell shares under the NCIB. To facilitate purchases during regulatory restrictions or customary self-imposed blackout periods, the company has entered into an Automatic Securities Purchase Plan (ASPP) with Desjardins Capital Markets. Purchases during blackout periods are made by the broker in its sole discretion based on parameters established by the company prior to the blackout. The ASPP terminates on the earliest of: (i) the maximum number of shares permitted under the NCIB being purchased; (ii) the expiry of the NCIB; or (iii) termination of the ASPP. Purchases made under the ASPP count toward the total number of shares purchased under the NCIB.
Regarding the rationale for the bid, the company stated: "The Company is undertaking the NCIB because, in the opinion of its board of directors, from time to time the market price of its Shares may not fully reflect the underlying value of the Company's business and future prospects, and that the repurchase of Shares at such times represents an appropriate use of available funds and is in the best interests of shareholders."