Wesdome Gold Mines Initiates Share Buyback Program
Wesdome Gold Mines Ltd. (TSX: WDO, OTCQX: WDOFF) is excited to unveil its plan for a Normal Course Issuer Bid (NCIB), which has just received approval from its board of directors and is pending final consent from the Toronto Stock Exchange (TSX). This strategic initiative allows the company to buy back a substantial 2% of its public float over the next year, enhancing shareholder value through gradual share repurchases over this period.
Positive Financial Outlook
Anthea Bath, the President and CEO of Wesdome, emphasized that the initiation of the NCIB demonstrates the company's strong financial health and its commitment to prudent capital management. With a zero-debt status and an increasing cash surplus, Wesdome has the flexibility to finance high-return projects while also returning excess capital to shareholders through this buyback initiative.
Rationale Behind the NCIB
The board of Wesdome firmly believes that implementing an NCIB represents a strategic use of their liquidity. After financing growth projects, utilizing available cash for share buybacks is designed to boost per-share value and benefit both the corporation and its investors.
Proposed Mechanisms of the Buyback
Wesdome has submitted a notice of intention for the NCIB with the TSX. Pending approval, the company would be able to purchase up to 2% of its public float for cancellation throughout the year. As of late October 2025, Wesdome reported having 150,969,214 total shares outstanding. This means they could potentially repurchase about 3,013,315 shares under the terms of the NCIB, with a daily ceiling set at 182,093 shares, equating to 25% of the average daily trading volume on the TSX over the six months prior to their report.
Conducting Share Repurchases
These share buybacks will occur on the TSX and possibly alternative Canadian trading platforms, with compliance to all relevant regulatory stipulations. Wesdome plans to fund these purchases using cash reserves and operational cash flow.
About Wesdome Gold Mines Ltd.
Wesdome is a prominent gold producer based in Canada, with significant presence across two high-grade underground mines: the Eagle River mine located in Ontario and the Kiena mine situated in Quebec. The company focuses on effectively utilizing its robust operating platform, while also leveraging both brownfield and greenfield projects within its exploration pipeline, aiming to establish itself as a value-driven gold producer in Canada.
Contact Information
If you require further information, please reach out to the following contacts:
Raj Gill
Senior Vice President, Corporate Development and Investor Relations
Phone: +1.416.360.3743
Email: invest@wesdome.com
Trish Moran
Vice President, Investor Relations
Phone: +1.416.564.4290
Email: trish.moran@wesdome.com
Frequently Asked Questions
What is the purpose of Wesdome's NCIB?
The Normal Course Issuer Bid (NCIB) aims to repurchase up to 2% of its public float to enhance shareholder value and reflect the company’s strong financial position.
How does Wesdome plan to fund the share buybacks?
The company plans to use its cash reserves and operational cash flow to finance the purchases under the NCIB.
What are the benefits of the NCIB to shareholders?
Shareholders might see an increase in per-share value as oversupply in the market is mitigated by the company’s buyback actions.
When can Wesdome start repurchasing shares?
Repurchases will begin following TSX approval of the NCIB and will occur over a 12-month period.
Which mines does Wesdome operate?
Wesdome operates two primary underground gold mines: the Eagle River mine in Ontario and the Kiena mine in Quebec.
