Western Star Resources Inc. (CSE: WSR) (OTC: WSRIF) (FRA: 4K2) announced that the Canadian Securities Exchange (CSE) has accepted its notice of intention to commence a normal course issuer bid (NCIB). Under the NCIB, the company may purchase for cancellation up to 3,842,295 common shares, representing 10% of the public float, during the twelve-month period from July 2, 2026 to July 2, 2027.
Purchases will be made through the facilities of the CSE and/or alternative Canadian trading systems at prevailing market prices, in accordance with applicable securities laws and CSE policies. Haywood Securities Inc. has been appointed as the purchasing dealer and trader. All shares acquired will be cancelled.
The board of directors and management believe the market price of the common shares may not adequately reflect their underlying value. The repurchase program represents an appropriate use of available financial resources and is in the best interests of the company and its shareholders. The timing and amount of purchases will be determined by management based on market conditions and regulatory requirements, and the company is not obligated to acquire any specific number of shares.
Western Star Resources is an emerging junior mineral exploration company focused on revitalizing North America's tungsten supply. It is advancing entry into the U.S. market through the acquisition of a past-producing tungsten mine in Nevada, a historically significant tungsten district. The company also owns nine mineral claims totaling 4,740 hectares in the Revelstoke mining division of British Columbia.
This NCIB signals management's confidence in the company's strategic direction and the intrinsic value of its assets. The buyback could provide support for the share price and enhance shareholder value by reducing the number of outstanding shares. For more details, view the original release on NewMediaWire.
