08:48 AM EDT, 05/21/2025 (MT Newswires) -- Chorus Aviation ( CHRRF ) reported Wednesday the preliminary results of its substantial issuer bid to purchase for cancellation up to $25 million of its issued and outstanding class A variable voting shares and class B voting shares.

Based on the preliminary count by TSX Trust Company, Chorus said a total of 471,319 shares were properly tendered and not withdrawn.

The shares expected to be purchased under the offer represented approximately 1.78% of the company's issued and outstanding shares as of April 11.

As the total value of shares tendered was less than the total that could have been purchased by the company, Chorus said all shares validly deposited and not withdrawn will be purchased under the offer and no proration will be required.

Chorus said its normal course issuer was suspended during the offer and it plans to resume the NCIB, which is expiring on Nov. 13.

Chorus' share price fell 1.7% on Tuesday to $19.65 on the TSX.