11:37 AM EDT, 07/16/2025 (MT Newswires) -- (Updates shares.)

Frontera Energy ( FECCF ) late on Tuesday said it completed a substantial issuer bid, repurchasing for cancellation $91-million worth of shares, and launched a new normal course issuer bid.

The company said bought 7.6 million of its shares at $12 per share. The repurchased shares are about 9.8% of the total number issued and outstanding shares as at July 10. After the shares are canceled, Frontera expects it will have around 70-million shares outstanding.

"With the completion of this offer, Frontera has returned more than US$144 million to shareholders over the last 12-month period, through its substantial issuer bids, dividends and share repurchases," said Board Chair Gabriel de Alba.

Separately, Frontera said it received exchange permission to launch a normal-course issuer bid for up to 3.5-million shares, or 5% of its outstanding shares, during a 12-month period starting July 18.

Frontera shares were last seen up $0.165 to $6.205 n the Toronto Stock Exchange.

Price: 6.21, Change: +0.17, Percent Change: +2.73