Nickel 28 Announces TSXV Approval of Normal Course Issuer Bid
Nickel 28 Announces TSXV Approval of
Normal Course Issuer Bid
Toronto, Ontario--(Newsfile Corp. - February 19, 2026) - Nickel 28 Capital Corp. (TSXV: NKL) (FSE:
3JC0) ("
Nickel 28
" or the "
Company
") is pleased to announce that it has received approval from the
TSX Venture Exchange (the "
TSXV
") to conduct, at the Company's discretion, a normal course issuer
bid program (the "
NCIB
") to purchase up to 7,050,819 common shares, representing approximately
8.1% of Nickel 28's issued and outstanding common shares. Nickel 28 has appointed Haywood
Securities Inc. to administer the proposed NCIB on behalf of the Company.
As of the date hereof, the Company has 86,977,221 common shares issued and outstanding. The
maximum number of common shares that may be purchased by the Company under the NCIB
represents approximately 10% of the Company's "Public Float" (calculated in accordance with the rules
of the TSXV). The NCIB will commence on February 23, 2026, and will terminate on February 23, 2027,
or on an earlier date in the event that the maximum number of common shares sought in the NCIB have
been repurchased. The Company reserves the right to terminate the NCIB at any time.
"We are pleased to announce the TSXV's acceptance of Nickel 28's normal course issuer bid," stated
Craig Lennon, President & Chief Executive Officer of the Company. "In the opinion of management and
the board of directors of Nickel 28, the common shares have recently continued to trade in a price range
that represents a substantial discount to the Company's net asset value and does not reflect the
underlying value of the Company, and implementation of this normal course issuer bid represents an
important element of our shareholder capital return policy to enhance shareholder value creation," he
said.
All common shares purchased by Nickel 28 will be purchased on the open market through the facilities of
the TSXV or alternative Canadian trading systems, in open market transactions or by such other means
as may be permitted under applicable securities laws. The actual number of common shares which may
be purchased, and the timing of such purchases, will be determined by Nickel 28. Decisions regarding
purchases will be based on market conditions, share price, best use of available cash, and other factors
as determined by the Board from time to time. Nickel 28 has also entered into an automatic purchase
plan which will allow for the purchase for cancellation of common shares, subject to certain trading
parameters, by Haywood Securities Inc. during times when Nickel 28 would ordinarily not be active in the
market due to applicable securities regulatory restrictions or self-imposed blackout periods. Outside of
these periods, the common shares will be repurchased by Nickel 28 at its discretion under the NCIB.
About Nickel 28
Nickel 28 Capital Corp. is a nickel-cobalt producer through its 8.56% joint-venture interest in the
producing long-life Ramu Nickel-Cobalt Operation located in Papua New Guinea. Ramu provides Nickel
28 with significant attributable nickel and cobalt production thereby offering our shareholders direct
exposure to two metals which are critical to the adoption of electric vehicles. In addition, Nickel 28
manages a portfolio of 10 nickel and cobalt royalties on development and exploration projects in
Canada, Australia and Papua New Guinea.
Cautionary Note Regarding Forward-Looking Statements
This news release contains certain information which constitutes 'forward-looking statements' and
'forward-looking information' within the meaning of applicable Canadian securities laws. Any statements
that are contained in this news release that are not statements of historical fact may be deemed to be
forward-looking statements. Forward-looking statements are often identified by terms such as "may",
"should", "anticipate", "expect", "potential", "believe", "intend" or the negative of these terms and similar
expressions. Forward-looking statements in this news release include, but are not limited to: statements
with respect to the proposed NCIB and related automatic share purchase plan (including relating to the
number of common shares to be repurchased); statements with respect to the net asset value of the
Company; statements with respect to the shareholder capital return policy; and statements with respect
to the business and assets of Nickel 28 and its strategy going forward. Forward-looking statements
involve known and unknown risks and uncertainties, most of which are beyond the Company's control.
Should one or more of the risks or uncertainties underlying these forward-looking statements materialize,
or should assumptions underlying the forward-looking statements prove incorrect, actual results,
performance or achievements could vary materially from those expressed or implied by the forward-
looking statements.
The forward-looking statements contained herein are made as of the date of this release and, other than
as required by applicable securities laws, the Company does not assume any obligation to update or
revise them to reflect new events or circumstances. The forward-looking statements contained in this
release are expressly qualified by this cautionary statement.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is
defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy
or accuracy of this release. No securities regulatory authority has either approved or
disapproved of the contents of this news release.
Investor Relations Contact Information
:
Nickel 28 Investor Relations
Attn: Brett A. Richards, Director
Tel: +1 905 449 1500
Email:
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/284441