Toronto, Ontario — January 7, 2026 — Leads & Copy — Nickel 28 Capital Corp. (TSXV: NKL) (FSE: 3JC0) has announced a proposed normal course issuer bid (“NCIB”) to repurchase its common shares.
According to management and the company’s board of directors, the common shares have recently traded at a price range that represents a substantial discount to the company’s net asset value and does not reflect its underlying value.
Craig Lennon, President & Chief Executive Officer of Nickel 28, stated that using Nickel 28’s excess liquidity to buy back common shares at their current trading price would be highly accretive to the net asset value per share. He added that the proposed purchase for cancellation of shares by Nickel 28 during these times, in accordance with their existing shareholder capital return policy, will benefit the remaining shareholders by increasing their proportionate ownership in the company.
Nickel 28 has submitted a notice of intention to undertake the NCIB to the TSX Venture Exchange (“TSXV”) in connection with the purchase by Nickel 28 of up to 7,050,819 of its common shares. This represents approximately 8.1% of the 86,977,221 common shares comprising Nickel 28’s total issued and outstanding common shares as of January 5, 2026.
All common shares purchased by Nickel 28 will be purchased on the open market through the facilities of the TSXV in accordance with the rules, regulations, and policies of the TSXV and will be cancelled. The actual number of common shares which may be purchased, and the timing of such purchases, will be determined by Nickel 28. Decisions regarding purchases will be based on market conditions, share price, best use of available cash, and other factors as determined by the Board from time to time.
Nickel 28 intends to enter into an automatic purchase plan which will allow for the purchase for cancellation of common shares, subject to certain trading parameters, by its designated broker during times when Nickel 28 would ordinarily not be active in the market due to applicable securities regulatory restrictions or self-imposed blackout periods. Outside of these periods, the common shares will be repurchased by Nickel 28 at its discretion under the NCIB.
Haywood Securities Inc. has been appointed by Nickel 28 to administer the proposed NCIB on behalf of the Company.
The normal course issuer bid remains subject to the approval of the TSXV and will begin on the date that is two trading days after the TSXV’s approval and will be open for a maximum period of 12 months. A further news release with additional details of the normal course issuer bid will be issued upon approval of the bid by the TSXV.
Nickel 28 Capital Corp. is a nickel-cobalt producer through its 8.56% joint-venture interest in the producing long-life Ramu Nickel-Cobalt Operation located in Papua New Guinea. Ramu provides Nickel 28 with significant attributable nickel and cobalt production thereby offering our shareholders direct exposure to two metals which are critical to the adoption of electric vehicles. In addition, Nickel 28 manages a portfolio of 10 nickel and cobalt royalties on development and exploration projects in Canada, Australia and Papua New Guinea.
Investor Relations Contact Information:
Nickel 28 Investor Relations
Attn: Brett Richards, Director
Tel: +1 905 449 1500
Email: info@nickel28.com
Source: Nickel 28
