VANCOUVER – November 02, 2026 -- Verdera Energy Corp. (TSXV: V) will buy back up to 6,389,047 common shares for cancellation under a new normal course issuer bid, up from the 3,793,152-share cap in the bid it terminated on October 30, 2026.
Prior bid capped on pre-distribution share count
The company said it sized the Previous NCIB on its capitalization and public float immediately before the distribution of 35,000,000 Verdera common shares to enCore Energy Corp. shareholders. That distribution closed on September 30, 2026. Verdera attributed the miscalculation to an administrative oversight. The issuance was predetermined when the Previous NCIB launched on September 29, 2026.
The Previous NCIB was authorized for up to 3,793,152 shares, about 10% of a 37,931,520-share public float and about 5% of 75,782,993 shares outstanding as of September 23, 2026.
Share count rises to 110.4 million after cancellations
After the Previous NCIB was terminated and 380,500 repurchased shares were cancelled, Verdera had 110,412,493 common shares outstanding and a calculated public float of 67,695,476 shares. Immediately before the cancellation, the figures were 110,792,993 shares outstanding and a float of 68,075,976. The change followed the conversion of 35,000,000 Class A preferred shares into common shares.
New bid covers 9.44% of adjusted float
The New NCIB allows purchases of up to 6,389,047 shares. That is about 9.44% of the adjusted public float and 5.79% of adjusted shares outstanding. The 380,500 shares bought under the Previous NCIB are deducted from the new maximum, as TSX Venture Exchange requirements dictate. Combined, the two programs allow up to 6,769,547 shares, about 10% of the adjusted public float.
Purchases may begin through the TSXV on or after November 6, 2026. The bid ends on the earliest of November 5, 2027, the date the maximum is reached, or the date Verdera elects to terminate it. Haywood Securities Inc. is the designated broker. Buys will be made on the open market at prevailing prices, subject to TSXV pricing limits, and all shares bought will be cancelled.
Management retains full discretion on timing and size
Verdera said buying its shares at prevailing prices may be an attractive use of available capital. Timing and volume depend on market conditions, available funds and other corporate considerations. The company has no obligation to buy any shares and may suspend or end purchases at any time.
Previous bid retired 380,500 shares for about $99,356
As of October 30, 2026, Verdera had bought 380,500 shares under the Previous NCIB at an average of $0.2611 per share. Total consideration was about $99,356.08, excluding brokerage commissions. The Previous NCIB had been scheduled to run to September 28, 2027.