ROUYN-NORANDA, Quebec, April 02, 2026 (GLOBE NEWSWIRE) -- Abcourt Mines Inc. ("Abcourt" or the "Company") (TSX Venture: ABI) (OTCQB: ABMBF) is pleased to announce that the TSX Venture Exchange ("TSXV") has approved the Company's request to implement a normal course issuer bid ("NCIB") program, through which Abcourt may purchase, for cancellation, up to 80,000,000 of its common shares, representing just under 10% of the public float (811,853,718 common shares on a total of 1,193,348,720 issued and outstanding common shares as of March 30, 2026).
The Board of Directors of Abcourt believes that the current market price of the Company's common shares does not adequately reflect the intrinsic value of the Company, particularly in light of the recent strategic financing with Glencore and the ongoing production ramp-up at the Sleeping Giant mine.
Management believes that the purchase of its common shares represents an advantageous use of capital to enhance shareholder value.
Terms of the NCIB
- Period: The program will commence on April 3, 2026 and will terminate on April 2, 2027 or such earlier date if the Company has completed its purchases.
- Method: Purchases will be made from time to time by Red Cloud Securities Inc., on behalf of the Company, through the facilities of the TSXV or Canadian alternative trading systems at the prevailing market price at the time of acquisition.
- Treatment of Shares: All shares purchased under this program will be cancelled.
The Company is under no obligation to purchase a specific number of shares and may suspend or terminate the program at any time. The extent to which Abcourt repurchases its shares and the timing of such repurchases will depend upon market conditions and other corporate considerations, as determined by Abcourt's management team. The Company will use funds from its existing cash balances to purchase the shares.
ABOUT ABCOURT MINES INC.
Abcourt Mines Inc. is a Canadian gold producer with strategic properties located in northwestern Québec. The Company owns the Sleeping Giant mine, which includes a processing plant with a capacity of 750 to 950 tonnes per day. Abcourt is currently focused on the operations of its flagship mine and the development of the Flordin project.
For more information about Abcourt Mines Inc., please visit our website at www.abcourt.ca and the Company's profile at www.sedarplus.ca.
| Pascal Hamelin President and CEO T: (819) 768-2857 Courriel: phamelin@abcourt.com | Dany Cenac Robert VP Communication and Corporate Development T: (514) 722-2276 ext. 456 Courriel: ir@abcourt.com |
FORWARD-LOOKING STATEMENTS
This news release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable Canadian securities laws (collectively, "forward-looking information"). Forward-looking information is generally identified by words such as "intend", "plan", "expect", "believe", "estimate", "anticipate", "may", "will", "should", "could", "potential" and similar expressions, or by statements that events or conditions "will" or "may" occur. Forward-looking information in this news release includes, without limitation, statements relating to the anticipated commencement date, duration and size of the NCIB; the timing and amount of any repurchases; the expected benefits of the NCIB to the Company and its shareholders; and statements regarding the Company's operations, including the ongoing production ramp-up at the Sleeping Giant mine. Forward-looking information is based on management's beliefs and assumptions as of the date hereof, including, without limitation: that the TSXV will accept the NCIB on the terms proposed; that market conditions, trading liquidity and share prices will be conducive to repurchases; that the Company will have sufficient financial resources and working capital to conduct repurchases while continuing to fund operations and planned activities; and that the Company's operational plans, including the production ramp-up, will proceed substantially as anticipated. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those expressed or implied by such forward-looking information. These risks and uncertainties include, but are not limited to: the TSXV's acceptance of the NCIB and the Company's ability to obtain any required regulatory approvals or exemptive relief; changes in market conditions, share price volatility and trading liquidity; the Company's decision to vary, suspend or terminate the NCIB; limitations imposed by applicable securities laws and TSXV policies; the Company's capital requirements and availability of cash; and risks related to the Company's business and operations, including those risks described in the Company's continuous disclosure filings available under the Company's profile on SEDAR+ at www.sedarplus.ca-
Although the Company believes the assumptions and expectations reflected in the forward-looking information are reasonable, undue reliance should not be placed on forward-looking information, as actual results may differ materially. The Company does not undertake to update or revise any forward-looking information except as required by applicable law.
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.
