05:08 PM EDT, 10/28/2024 (MT Newswires) -- Orbit Garant Drilling (OGD.TO) after trade Monday said it received exchange permission to buy back up to 5% of its outstanding shares over the next 12 months through a normal-course issuer bid.

The company, which provides drilling services to the mining industry, said it can repurchase and cancel up to 1.87-million share in the 12 months beginning on Oct.31.

It did not repurchase any of its own shares over the previous 12 months.

Orbit Garant shares closed up $0.03 to $0.75 on the Toronto Stock Exchange.