Erdene Announces Intention to Launch Normal Course Issuer Bid
TSX: ERD | MSE: ERDN | OTCQX: ERDCF
www.erdene.com 1 [email protected]
ERDENE ANNOUNCES INTENTION TO
LAUNCH NORMAL COURSE ISSUER BID
Press Release
Halifax, Nova Scotia
2026.06.26
Erdene Resource Development Corp oration (TSX:ERD; MSE:ERDN; OTCQX:
ERDCF) ("Erdene" or the "Company") is pleased to announce its intention to launch a
normal course issuer bid ("NCIB"), under which it may purchase up to an aggregate
4,900,000 common shares of the Company ( "Common Shares") for
cancellation, representing approximately 10% of the 49,386,538 public float of Common
Shares as of June 17, 2026. 65,493,042 Common Shares were issued and outstanding
as of June 17, 2026.
The NCIB will commence on June 30, 2026, and will terminate on June 29, 2027, or on
an earlier date in the event that the maximum number of Common Shares sought under
the NCIB have been repurchased.
Purchases under the NCIB are expected to be conducted pursuant to open market
transactions through the facilities of the TSX , other designated exchanges and/or
alternative Canadian trading systems at prevailing market prices at the time of acquisition,
and made in accordance with the policies of the TSX and the requirements of those other
designated exchanges and/or alternative Canadian trading systems . The maximum
number of Common Shares that can be purchased on the same trading day on TSX is
41,011 (25% of the average daily trading volume for the six months ended May 31, 2026,
which was 164,046 shares), other than block purchase exceptions. All Common Shares
purchased under the NCIB will be returned to treasury and cancelled.
The Company's management and Board of Directors believe that the market price of the
Common Shares may, at certain times throughout the duration of the NCIB, be
undervalued based on Erdene’s financial performance and prospects. Accordingly,
management of the Company considers the NCIB an appropriate and efficient use of
capital in order to increase shareholder value.
The Company is not obligated to purchase any specific number of Common Shares under
the NCIB. The timing and extent of any purchases will depend on market conditions and
other corporate considerations, as determined by management. The Company may
suspend or terminate the NCIB at any time. The Company has not previously completed
an NCIB and has not purchased any of its Common Shares in the last 12 months.
About Erdene
Erdene Resource Development Corporation is a Canada-based resource company
producing gold at the high-grade, low-cost Bayan Khundii Gold Mine in underexplored
TSX: ERD | MSE: ERDN | OTCQX: ERDCF
www.erdene.com 2 [email protected]
and highly prospective Mongolia. The Company has interests in a portfolio of precious
and base metal projects near the Bayan Khundii Gold Mine in the Khundii Minerals District,
which provides a robust organic growth pipeline. Erdene Resource Development
Corporation is listed on the Toronto (“ERD”) and the Mongolian stock (“ERDN”)
exchanges and OTCQX Market (“ERDCF”). Further information is available at
www.erdene.com. Important information may be disseminated exclusively via the website;
investors should consult the site to access this information.
Forward-Looking Statements
Certain information regarding Erdene contained herein may constitute forward-looking
statements within the meaning of applicable securities laws. Forward-looking statements
may include estimates, plans, expectations, opinions, forecasts, projections, guidance, or
other statements that are not statements of fact , including statements regarding the
commencement and duration of the NCIB and purchases that may be made under the
NCIB. Although Erdene believes that the expectations reflected in such forward-looking
statements are reasonable, it can give no assurance that such expectations will prove to
have been correct. Erdene cautions that actual performance will be affected by a number
of factors, most of which are beyond its control, and that future events and results may
vary substantially from what Erdene currently foresees. Factors that could cause actual
results to differ materially from those in forward-looking statements include the ability to
obtain required third party approvals, market prices, exploitation, and exploration results,
continued availability of capital and financing and general economic, market or business
conditions. The forward-looking statements are expressly qualified in their entirety by this
cautionary statement. The information contained herein is stated as of the current date
and is subject to change after that date. The Company does not assume the obligation to
revise or update these forward-looking statements, except as may be required under
applicable securities laws.
NO REGULATORY AUTHORITY HAS APPROVED OR DISAPPROVED THE
CONTENTS OF THIS RELEASE
Erdene Contact Information
Peter C. Akerley, President and CEO, or
Robert Jenkins, CFO
Phone: (902) 423-6419
Email: [email protected]
Twitter: https://twitter.com/ErdeneRes
Facebook: https://www.facebook.com/ErdeneResource
LinkedIn: https://www.linkedin.com/company/erdene-resource-development-corp-/