08:32 AM EDT, 06/06/2025 (MT Newswires) -- Neo Performance Materials ( NOPMF ) , which rose 3.5% on Thursday, got clearance from the Toronto Stock Exchange for a stock buyback.

Under the normal course issuer bid, 3.29 million of its issued and outstanding common shares may be repurchased, representing approximately 10% of the public float of shares on May 30. Any shares purchased will be cancelled, said the company on Friday.

The company also said that it has entered into an automatic share purchase plan with its designated broker to allow for purchases of its shares.

Purchases of shares under the bid may begin on June 11 and will end on June 10, 2026, or earlier if the bid is completed before then.

The company purchased 3.6 million common shares on the open market at an average price of $7.91 apiece in its previous buyback.

The company also announced that, effective Friday, its common shares will begin trading on the OTCQX Best Market under the symbol "NOPMF" and added that it maintains its primary listing on the Toronto Stock Exchange under the symbol "NEO".

"We are pleased to begin trading on OTCQX, which enhances Neo's visibility and accessibility for U.S. investors," said Neo Performance Materials' ( NOPMF ) Chief Executive Officer Rahim Suleman. "As a global leader in advanced rare earth materials, with a strong balance sheet and a growing magnetics business in Europe, we are well-positioned to support the accelerating demand for critical materials in electrification and other modern technologies. Trading on OTCQX provides an additional platform to broaden our shareholder base as we continue to execute on our strategic priorities and drive long-term value."