Western Star Resources Inc. (CSE: WSR) (OTC: WSRIF) (FRA: 4K2) announced today that the Canadian Securities Exchange (CSE) has accepted its notice 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 compliance with securities laws and CSE policies. All shares bought under the NCIB will be cancelled. The company has appointed Haywood Securities Inc. as its purchasing dealer and trader to execute the bid.
The board and management believe that, from time to time, the market price of Western Star's common shares may not adequately reflect their underlying value. Accordingly, 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, subject to 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. The company is advancing its entry into the U.S. market through the acquisition of a past-producing tungsten mine in Nevada, one of America's most important historic tungsten districts. It also owns nine non-surveyed contiguous mineral claims totaling 4,740 hectares in the Revelstoke mining division of British Columbia.
This NCIB announcement underscores management's confidence in the company's strategic direction and its belief that the current market valuation does not fully capture the potential of its assets, including the Nevada tungsten project and British Columbia claims. By reducing the outstanding share count, the buyback could enhance shareholder value over time.
For more details, view the original release on NewMediaWire.
