07:03 AM EDT, 03/09/2026 (MT Newswires) -- Mullen Group ( MLLGF ) announced Monday that it has received approval from the Toronto Stock Exchange for the renewal of its normal course issuer bid.

Pursuant to the renewed bid, the corporation in a statement said it may repurchase from time to time up to a maximum of 8,929,176 shares, which represents, as at Feb. 28, 2026, approximately 10% of its Public Float between March 11, 2026 and March 10, 2027.

Mullen added: "The Board of Directors continues to believe that the underlying value of the corporation may not be reflected in the current market price of its shares. As a result, depending upon future price movements and other factors, the board believes that the shares may represent an attractive investment to the corporation in the best interests of the corporation and its shareholders. Furthermore, the purchases are expected to benefit all persons who continue to hold shares by increasing their equity interest in the corporation if the repurchased shares are cancelled."

Shares in Mullen were down 2.2% last Friday.