04:27 PM EDT, 05/22/2025 (MT Newswires) -- Freehold Royalties ( FRHLF ) after close of trade Thursday said the Toronto Stock Exchange has accepted Freehold's notice of intention to launch a normal-course issuer bid (NCIB).

Under the NCIB, Freehold may repurchase and cancel up to 13.69-million shares, approximately 10 percent of the company's 163.96-million issued and outstanding shares as of May 14.

The total number of shares that Freehold is permitted to purchase is subject to a daily purchase limit of 185,656 shares, representing 25% of the average daily trading volume of 742,626 Shares on the TSX calculated for the six-month period ended April 30, 2025.

The NCIB takes effect on May 27 and runs for 12 months.

The company's shares closed down $0.06 to $12.34 on the Toronto Stock Exchange.