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Other

Nickel 28 Announces TSXV Approval of Normal Course Issuer Bid

By The Northwire Desk — AI Analysis Feb 19, 2026 · 07:01 NKL · 1.12 Nickel 28 Capital Corp.
NKL · Price

Executive Summary

  • Nickel 28 Capital Corp. received TSX Venture Exchange approval to commence a normal‑course issuer bid to repurchase up to 7,050,819 common shares (~8.1% of outstanding shares).
  • The NCIB will run from February 23 2026 to February 23 2027 (or earlier if the share limit is reached) and may be terminated at any time at the Company’s discretion.
  • Haywood Securities Inc. has been engaged to administer the bid and an automatic purchase plan for repurchases during blackout periods.

Key Details

  • Maximum Shares: Up to 7,050,819 common shares (≈8.1% of total issued & outstanding shares).
  • Public Float Limit: Represents ~10% of Nickel 28’s public float per TSXV rules.
  • Share Count: 86,977,221 common shares issued and outstanding as of the announcement date.
  • Program Timeline: Commences 23 Feb 2026; terminates 23 Feb 2027 or earlier if share limit reached.
  • Administration: Haywood Securities Inc. appointed to administer the NCIB and an automatic purchase plan for periods when Nickel 28 cannot trade (blackout periods).
  • Purchase Method: Open‑market transactions via TSXV or alternative Canadian trading systems, subject to applicable securities laws and market conditions.
  • Decision Factors: Timing and number of purchases will be based on share price, cash availability, market conditions, and board discretion.
  • Strategic Rationale (CEO Quote): The bid is intended to address a perceived discount to net asset value and enhance shareholder value under the Company’s capital return policy.

Notable Quotes

“In the opinion of management and the board of directors of Nickel 28, the common shares have recently continued to trade in a price range that represents a substantial discount to the Company's net asset value… implementation of this normal course issuer bid represents an important element of our shareholder capital return policy to enhance shareholder value creation.” – Craig Lennon, President & CEO.

Read the original news release →

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