07:15 AM EDT, 05/15/2024 (MT Newswires) -- MAG Silver Corp. ( MAG ) on Wednesday announced that the Toronto Stock Exchange has accepted the company's Notice of Intention to Make a Normal Course Issuer Bid.

Under the NCIB, the company may purchase for cancellation up to an aggregate of 8,643,374 common shares in the capital of the company, representing approximately 10% of the public float of the Common Shares as of May 8, 2024. The company's purchases in the United States will be subject to a limit of 5,148,977 Common Shares, being 5% of the public float of the Common Shares as of May 8, 2024.

The NCIB will commence on May 17, 2024 and terminate May 16, 2025, or earlier if the maximum number of Common Shares under the NCIB have been purchased or if the NCIB has been terminated by the company. As of May 8, 2024, the company had 103,143,078 Common Shares issued and outstanding and a public float of 86,433,740 Common Shares.