By Adriano Marchese
Osisko Mining plans to renew its share repurchase program to buy back up to 10% of its issued and outstanding common shares over the course of a year.
The Canadian mineral exploration company said the Toronto Stock Exchange approved the renewal of its normal course issuer bid to buy back up to about 36.5 million shares.
Osisko’s stock has been under pressure in 2023, falling about 24% year-to-date and closing on Wednesday at 2.66 Canadian dollars a share.
At Wednesday’s closing price, the value of the shares would be about C$97 million ($73.35 million).
The company expects to begin buying back shares on Jan. 2.
Write to Adriano Marchese at adriano.marchese@wsj.com
