08:16 AM EDT, 06/05/2024 (MT Newswires) -- Geodrill ( GEODF ) , a West African-based drilling company, said on Wednesday that it has secured approval from the Toronto Stock Exchange to renew its normal course issuer bid to buy back up to 5% of the company's outstanding shares.

Under the bid, which will run for a year beginning on June 7, the company can buy up to 2.3 million ordinary shares. The shares repurchased by Geodrill ( GEODF ) will be canceled.

Geodrill's ( GEODF ) stock fell 2.7% on Tuesday.