Toronto, Ontario — February 19, 2026 — Leads & Copy — Nickel 28 Capital Corp. has received approval from the TSX Venture Exchange to conduct a normal course issuer bid program (NCIB), the company said.
Under the NCIB, Nickel 28 (TSXV: NKL) (FSE: 3JC0) may purchase up to 7,050,819 common shares, representing approximately 8.1% of its issued and outstanding common shares, the company said.
Nickel 28 has appointed Haywood Securities Inc. to administer the NCIB on its behalf.
As of Feb. 19, 2026, the Company has 86,977,221 common shares issued and outstanding. The maximum number of common shares that may be purchased represents approximately 10% of the Company’s Public Float, the company said.
The NCIB will commence on February 23, 2026, and will terminate on February 23, 2027, or earlier if the maximum number of shares sought have been repurchased. Nickel 28 reserves the right to terminate the NCIB at any time.
“We are pleased to announce the TSXV’s acceptance of Nickel 28’s normal course issuer bid,” said Craig Lennon, President & Chief Executive Officer of Nickel 28.
Lennon added that management and the board of directors believe the common shares have recently traded at a substantial discount to the Company’s net asset value and do not reflect the underlying value of the Company. He said that the NCIB represents an important element of their shareholder capital return policy to enhance shareholder value creation.
All common shares purchased by Nickel 28 will be purchased on the open market through the facilities of the TSXV or alternative Canadian trading systems, in open market transactions or by such other means as may be permitted under applicable securities laws. The number of common shares which may be purchased, and the timing of such purchases, will be determined by Nickel 28, based on market conditions, share price, best use of available cash, and other factors as determined by the Board from time to time, the company said.
Nickel 28 has also entered into an automatic purchase plan which will allow for the purchase for cancellation of common shares, subject to certain trading parameters, by Haywood Securities Inc. 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.
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 attributable nickel and cobalt production, offering shareholders direct exposure to two metals critical to the adoption of electric vehicles, the company said.
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.
Source: Nickel 28 Capital Corp.
