TORONTO, Oct. 21, 2025 (GLOBE NEWSWIRE) — Wesdome Gold Mines Ltd. (TSX: WDO, OTCQX: WDOFF) (“Wasdom” or “Company“) is pleased to announce that the Wesdome Board of Directors has approved, subject to the approval of the Toronto Stock Exchange (“TLC“) initiation of the issuer's application at the normal rate (“NKIB“) buy up to 2% of the Company's shares in public circulation (“Stock“) over the next 12 months. The NCIB will be conducted in accordance with the requirements of the TSX and applicable securities laws and purchases will be made as appropriate opportunities arise from time to time.
Anthea Bath, President and Chief Executive Officer, commented: “The introduction of a conventional rate issuer offering, subject to TSX approval, reflects the continued strength of Wesdome's balance sheet and our commitment to disciplined capital allocation. With no debt and growing cash position, we are able to fund high-yield organic growth initiatives while maintaining financial flexibility to return capital shareholders through opportunistic share buybacks.”
Wesdome's Board of Directors believes that NCIB represents an appropriate use of available liquidity following the financing of strategic growth initiatives to enhance value per share and serve the interests of the Company and its shareholders.
Wesdome has filed a notice of intent to implement the NCIB with the TSX. If the NCIB is approved by the TSX, Wesdome will have the right to acquire a maximum of 2% of the publicly outstanding shares for cancellation within 12 months. As of October 16, 2025, Wesdome had a total of 150,969,214 shares issued and outstanding. The number of Shares that could be purchased under the NCIB was capped at a daily maximum of 182,093 Shares (representing 25% of the average daily trading volume of 728,373 Shares on the TSX for the six-month period to 16 October 2025). 2025), subject to Wesdome's ability to make one batch purchase of Shares per calendar week in excess of these limits. The actual number of Shares that Wesdome may purchase pursuant to the NCIB and the timing of such purchases will be determined by the Company's management and will depend on a number of factors, including market conditions, share price, available cash resources and other opportunities to invest capital for growth purposes, but Wesdome currently intends to purchase up to 3,013,315 Shares pursuant to the NCIB over the next 12 months.
Acquisitions under the NCIB will be made through the TSX or alternative Canadian trading facilities and subject to applicable regulatory requirements at a price per share equal to the market price at the time of acquisition. Any Shares purchased under the NCIB will be canceled upon purchase. Wesdome intends to finance the acquisitions using its cash on hand and cash flows from operations.
About Wesdom
Wesdome is a Canadian gold mining company with two high-grade underground assets, the Eagle River Mine in Ontario and the Kiena Mine in Quebec. The Company's primary goal is to responsibly leverage its operating platform and high-quality brownfield and greenfield exploration to create a growing value-focused Canadian gold producer.
For more information
| Raj Gill | Trish Moran |
| Senior Vice President, Corporate Development and Investor Relations | Vice President of Investor Relations |
| Phone: +1.416.360.3743 | Phone: +1.416.564.4290 |
| E-mail: [email protected] | E-mail: [email protected] |
Forward-Looking Statements
This press release contains “forward-looking information,” which may include, but is not limited to, statements regarding the Company's proposed ordinary course of issue filings, TSX approvals and other statements that are not historical facts. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “expects”, “budget”, “scheduled”, “estimated”, “forecasts”, “intends”, “expects” or “believes”, or variations (including negative variations) of such words and phrases, or statements that certain actions, events or results “may” “could”, “could” or “will” be attempted, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Wesdome's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. The forward-looking statements contained herein are made as of the date of this press release, and Wesdome disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise. There can be no assurance that forward-looking statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements.
In addition, if one or more risks, uncertainties or other factors materialize or if underlying assumptions prove incorrect, actual results may differ materially from those described in the forward-looking statements or information. These risks, uncertainties and other factors include the risk factors discussed under “Cautionary Notes Concerning Forward-Looking Information” and “Risks and Uncertainties” in Wesdome's most recent annual information form. Readers are urged to carefully review the detailed risk discussion in Wesdome's latest annual information form, which is available on SEDAR+ (www.sedarplus.ca).
PDF file available: http://ml.globenewswire.com/Resource/Download/c7ecce33-08ee-407c-9603-55a179c4e67e
