Western Star Resources Inc. (CSE: WSR) (OTC: WSRIF) (FRA: 4K2) announced that the Canadian Securities Exchange 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 company’s public float, during the twelve-month period starting July 2, 2026 and ending July 2, 2027.
Purchases will be made through the facilities of the CSE and alternative Canadian trading systems at prevailing market prices, in accordance with securities laws and CSE policies. Haywood Securities Inc. has been appointed as the purchasing dealer and trader to execute the NCIB. All repurchased shares will be cancelled, reducing the outstanding share count and potentially increasing shareholder value.
The board and management believe that the market price of Western Star’s common shares may not adequately reflect their underlying value. The repurchase program represents what the company considers 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, applicable laws, and CSE requirements. The company is not obligated to acquire any specific number of shares and may suspend or discontinue purchases at any time.
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. This strategic move positions Western Star to play a leading role in re-establishing a secure, domestic source of this critical mineral. The company also owns nine non-surveyed contiguous mineral claims totalling 4,740 hectares in the Revelstoke mining division of British Columbia, located approximately 50 kilometres southeast of Revelstoke and 10 kilometres north of the abandoned community of Camborne.
The NCIB signals management’s confidence in the company’s prospects and its commitment to enhancing shareholder value. As Western Star progresses its tungsten-focused strategy, the share repurchase program provides a mechanism to return capital to shareholders while the company pursues its growth objectives.
