07:47 AM EDT, 03/19/2024 (MT Newswires) -- Algoma Central Corp. ( AGMJF ) , a provider of marine transportation services, said Tuesday that it has received approval from the Toronto Stock Exchange for the renewal of the company's normal course issuer bid.

During the 12 months starting March 21, 2024, and ending March 20, 2025, Algoma may buy nearly 2 million of its shares, representing about 5% of about 39.5 million shares that were issued and outstanding as of March 7.

Any shares purchased under the NCIB will be canceled.

Algoma has entered into a new automatic share purchase plan with a designated broker in connection with the bid.