OceanaGold Announces Share Buyback Program
July 22, 2024
News Release
OceanaGold Announces Share Buyback Program
(VANCOUVER) OceanaGold Corporation (TSX:OGC, OTCQX:OCANF) (“OceanaGold” or the “Company”)
announces that it has received approval from the Toronto Stock Exchange (“TSX”) to buy back up to 35.5
million common shares (“Common Shares”), representing approximately 5% of OceanaGold’s outstanding
Common Shares and approximately 5% of the current public float of Common Shares, pursuant to a Normal
Course Issuer Bid (“NCIB”) in the open market through the facilities of the TSX or alternative Canadian
trading systems over the next 12 months. As of July 18, 2024, there were a total of 711,239,778 Common
Shares issued and outstanding.
In connection with the NCIB, the Company has entered into an Automatic Share Purchase Plan ( “ASPP”)
with a designated broker to allow for the repurchase of Common Shares at times when the Company
ordinarily would not be active in the market due to its own internal trading blackout periods .
Gerard Bond, President and Chief Executive Officer of OceanaGold, said “With the balance sheet further
strengthened following the recent completion of the Didipio IPO and Blackwater sale , the initiation of a
share buyback program is consistent with our capital allocation framework. With the Free Cash Flow we
expect to deliver in the coming years and today’s strong metal prices , the Company is well positioned to
continue funding our attractive organic growth projects , maintain a strong balance sheet and the current
dividend, and increase returns to shareholders via a buyback.”
The Company has received approval from the TSX , during the 12-month period commencing on July 24,
2024 and ending on or before July 23, 2025, to purchase Common Shares through the facilities of the TSX
and alternative Canadian trading systems. Under the terms of the NCIB, the Company may purchase up to
a daily maximum of 361,487 Common Shares (being 25% of the average daily trading volume of 1,445,951
Common Shares for the six-month period ended June 30, 2024).
The ASPP will terminate on the earliest of the date on which: (i) the purchase limit under the NCIB has
been reached; (ii) the NCIB expires; and (iii) the ASPP otherwise terminates in accordance with its terms.
The ASPP constitutes an “automatic plan” for purposes of applicable Canadian securities legislation and
the agreement governing the plan has been pre-cleared by the TSX.
www.oceanagold.com
The actual number of Common Shares that may be purchased and the timing of such purchases will be
determined by the Company in accordance with applicable laws and the ASPP . Decisions regarding
purchases will be based on market conditions, share price, best use of available cash, and other factors.
Any Common Shares that are purchased under the NCIB will be cancelled.
About OceanaGold
OceanaGold is a growing intermediate gold and copper producer committed to safely and responsibly
maximizing the generation of Free Cash Flow from our operations and delivering strong returns for our
shareholders. We have a portfolio of four operating mine s: the Haile Gold Mine in the United States of
America; Didipio Mine in the Philippines; and the Macraes and Waihi operations in New Zealand.
For further information please contact:
Investor Relations:
Rebecca Henare, Director, Investor Relations
Tel: +1 604 678 4095
Media Inquiries:
Louise Burgess, Director, Communications
Tel: +1 604 403 2019
Cautionary Statement Regarding Forward-Looking Information
Certain information contained in this news release may be deemed “forward-looking” within the meaning of
applicable securities laws. All statements other than statements of historical facts included in this news
release constitute forward -looking statements, including but not limited to the future price of gold,
information relating to future performance and reflect the Company’s expectations regarding the generation
of free cash flow, execution of business strategy, future growth, future production, estimated costs, results
of operations, business prospects and opportunities of OceanaGo ld and its related subsidiaries. Any
statements that express or involve discussions with respect to predictions, expectations, beliefs, plans,
projections, objectives, assumptions or future events or performance (often, but not always, using words or
phrases such as “expects” or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”,
“estimates” or “intends”, or stating that certain actions, events or results “may”, “could”, “would”, “might” or
“will” be taken, occur or be achieve d) are not statements of historical fact and may be forward -looking
statements. Forward -looking statements are subject to a variety of risks and uncertainties which could
cause actual events or results to differ materially from those expressed in the forwa rd-looking statements
and information. They include, among others, the accuracy of Mineral Reserve and Mineral Resource
www.oceanagold.com
estimates and related assumptions, inherent operating risks and those risk factors identified in the
Company’s most recent Annual Inform ation Form prepared and filed with securities regulators, which is
available on SEDAR+ at www.sedarplus.com under the Company ’s name. There are no assurances the
Company can fulfil forward -looking statements and information. Such forward -looking statements and
information are only predictions based on current information available to management as of the date that
such predictions are made; actual events or results may differ materially as a result of risks facing the
Company, some of which are beyond the C ompany’s control. Although the Company believes that any
forward-looking statements and information contained in this news release is based on reasonable
assumptions, readers cannot be assured that actual outcomes or results will be consistent with such
statements. Accordingly, readers should not place undue reliance on forward -looking statements and
information.
The Company expressly disclaims any intention or obligation to update or revise any forward -looking
statements and information, whether as a result of new information, events or otherwise, except as required
by applicable securities laws. The information contained in this release is not investment or financial product
advice.