07:40 AM EST, 03/07/2025 (MT Newswires) -- Mullen Group ( MLLGF ) announced Friday it has received approval from Toronto Stock Exchange for renewal of its normal course issuer bid on common shares and approval to commence a normal course issuer bid for 5.75% Convertible Unsecured Subordinated Debentures.

For its normal course issuer bid for the shares that began on March 11, 2024, and that will expire on March 10, 2025, Mullen previously received approval from the TSX to repurchase up to 8,220,349 shares. Of this amount, as of February 28, 2025, the corporation had repurchased 506,380 shares for a total cost of approximately $6.64 million, representing a volume weighted average price of $13.11 per share.

Pursuant to the bid, the corporation may repurchase from time to time up to a maximum of 8,157,012 shares, which represents, as at February 28, 2025, approximately 10% of the public float. Additionally, pursuant to the bid, the corporation may repurchase from time to time up to a maximum of $12,015,000 principal amount of debentures, representing 10% of the Public Float of the debentures. The Bid shall commence on March 11, 2025, and expire at the closing of trading on March 10, 2026.