09:17 AM EST, 12/19/2024 (MT Newswires) -- Kiwetinohk Energy Corp. ( KWTEF ) on Thursday announced that the Toronto Stock Exchange (TSX) has approved the company's notice to renew its normal course issuer bid (NCIB) for its common shares.

A statement noted the NCIB is anticipated to commence on December 23, 2024 and to expire December 22, 2025. Kiwetinohk may purchase up to 2,188,237 common shares under the NCIB, representing 5% of the 43,764,748 issued and outstanding common shares as of December 11, 2024.

Kiwetinohk is authorized to purchase up to 2,183,477 common shares under its current NCIB, which will expire on December 21, 2024. To December 11, 2024, no common shares have been purchased on the open market under the NCIB.

Kiwetinohk also announced today that, in connection with its intention to implement the NCIB, it has renewed its automatic share purchase plan (ASPP).

Kiwetinohk believes its common shares have been trading in a price range which does not adequately reflect appropriate value in relation to current operations, growth prospects and financial position.