Western Star Resources Inc. (CSE: WSR) (OTC: WSRIF) (FRA: 4K2) announced that the Canadian Securities Exchange has accepted its notice to commence a normal course issuer bid (NCIB), allowing the company to purchase up to 3,842,295 common shares for cancellation over a 12-month period starting July 2, 2026. The shares represent 10% of the company's public float, as outlined in the press release.
The NCIB permits purchases through the CSE and alternative Canadian trading systems at prevailing market prices, with all acquired shares to be cancelled. Haywood Securities Inc. has been appointed as the purchasing dealer and trader. The timing and volume of purchases will be determined by management based on market conditions and CSE requirements, and the company is not obligated to acquire any specific number of shares, with the ability to suspend or discontinue the bid at any time.
Western Star's board and management believe that the market price of its common shares may not always reflect their underlying value. Consequently, the repurchase program is viewed as an appropriate use of financial resources and in the best interests of shareholders. This move signals management's confidence in the company's strategic direction and financial position.
The announcement comes as Western Star focuses 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. This positions Western Star to play a leading role in re-establishing a secure domestic source of this critical mineral, which is essential for various industrial and defense applications.
Additionally, Western Star owns nine non-surveyed contiguous mineral claims totaling 4,740 hectares in the Revelstoke mining division of British Columbia, located approximately 50 kilometers southeast of Revelstoke. The NCIB allows the company to return value to shareholders while it pursues its core business objectives in the critical minerals sector.
For more details, view the original release on NewMediaWire.
