08:38 AM EDT, 05/30/2025 (MT Newswires) -- PrairieSky Royalty Ltd. ( PREKF ) announced Friday that the Toronto Stock Exchange has accepted the notice of its intention to commence a normal course issuer bid.

The company noted that on April 14, 2025, it announced its intention to seek TSX approval to renew its NCIB for an additional one-year period. The NCIB allows the company to purchase up to 15,355,946 common shares which represents near 6.5% of the common shares outstanding, being 235,536,040 as of May 21, 2025, and 10% of the public float of 153,559,462 common shares which is defined as the common shares outstanding after excluding common shares beneficially owned by directors and executive officers of PrairieSky and persons who beneficially own or exercise control or direction over more than 10% of the issued and outstanding common shares of PrairieSky. The NCIB will commence on June 4, 2025 and will expire no later than June 3, 2026.

Under the NCIB, common shares may be repurchased in open market transactions on the TSX, and/or other Canadian alternative trading systems. In accordance with the rules of the TSX governing normal course issuer bids, the total number of common shares the company is permitted to purchase is subject to a daily purchase limit of 99,954 common shares, representing 25% of the average daily trading volume of common shares on the TSX calculated for the six-month period ended April 30, 2025, being approximately 399,818 common shares. However, the company may make one block purchase per calendar week which exceeds the daily repurchase restriction. Any common shares that are purchased under the NCIB will be cancelled by PrairieSky.

PrairieSky believes that from time to time the market price of the common shares may not reflect their underlying value.

The company has entered into an automatic share purchase plan with its broker in order to facilitate purchases of its common shares.

It currently intends to purchase up to a maximum of 15,355,946 common shares to effect NCIB purchases over the next 12 months. PrairieSky purchased 3,415,900 common shares under its current normal course issuer bid which authorized the purchase for cancellation of up to 5 million common shares and commenced on June 4, 2024 and runs to June 3, 2025. Since instituting the normal course issuer bid in 2016 to March 31, 2025, PrairieSky has purchased and cancelled an aggregate of 20.1 million common shares at a weighted average price per share of $16.74.