RCS - Polaris Renewable - Polaris Renewable Energy Announces Renewal

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21/08/2025 14:00

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RNS Number : 1652W  Polaris Renewable Energy Inc  21 August 2025

Polaris Renewable Energy Announces Renewal Of Normal Course Issuer Bid

TORONTO, ONTARIO / ACCESS Newswire (https://www.accessnewswire.com/)  /
August 21, 2025 / Polaris Renewable Energy Inc. (TSX:PIF) ("Polaris" or the
"Company") today announced that the Toronto Stock Exchange ("TSX") has
accepted its notice of intention to renew its normal course issuer bid
("NCIB").

The Company's Board of Directors believes that an NCIB represents an
appropriate and desirable use of its available free cash to increase
shareholder value and is in the best interest of the Company and its
shareholders.

Pursuant to the notice, Polaris may purchase up to 2,029,745 of its common
shares ("Shares"), representing approximately 10% of the public float of
20,297,451 Shares as at August 13, 2025, during the twelve month period
commencing August 25, 2025 and ending August 24, 2026, provided that the board
of directors of Polaris has initially limited the NCIB to repurchase up to
176,125 Shares. As at August 13, 2025, there were 21,007,433 Shares issued and
outstanding. Under the NCIB, other than purchases made under block purchase
exemptions, the Company may purchase up to 7,303 Shares on the TSX during any
trading day, which represents approximately 25% of 29,213 Shares, which
represents the average daily trading volume on the TSX for the most recently
completed six calendar months prior to the TSX's acceptance of the notice of
the NCIB. Any Shares purchased under the NCIB will be cancelled.

Under the Company's current NCIB, the Company sought and obtained approval to
purchase up to 2,045,613 Shares from August 23, 2024 to August 22, 2025. As at
August 13, 2025, the Company repurchased an aggregate of 85,400 Shares at a
weighted-average price of $12.02 per Share. The Company purchased all Shares
through the facilities of the TSX and alternative Canadian trading systems on
which the Shares trade from time to time.

Although the Company intends to purchase Shares under its NCIB, there can be
no assurances that any such purchases will be completed. Any purchases made
under the NCIB will be made by the Company at the prevailing market price at
the time of acquisition and by means of open market transactions through the
facilities of the TSX and alternative Canadian trading systems on which the
Shares trade from time to time.

The Company has entered into an automatic share purchase plan ("ASPP") with a
designated broker, to allow for purchases by the Company of Shares during
certain pre-determined blackout periods, subject to certain parameters. The
ASPP constitutes an "automatic securities purchase plan" under applicable
Canadian securities laws, has been approved by the TSX and will be implemented
effective August 25, 2025.

About Polaris Renewable Energy Inc.

Polaris Renewable Energy Inc. is a Canadian publicly traded company engaged in
the acquisition, development, and operation of renewable energy projects in
Latin America & the Caribbean. We are a high-performing and financially
sound contributor to the energy transition.

The Company's operations include a geothermal plant (~82 MW), four run-of
river hydroelectric plants (~39 MW), three solar (photovoltaic) projects in
operation (~35 MW) and an onshore wind park (~26 MW).

For more information, contact:

Investor Relations

Polaris Renewable Energy Inc.

Phone: +1 647-245-7199

Email: info@PolarisREI.com

Cautionary Statements

This press release contains certain "forward-looking information" which may
include, but is not limited to, statements with respect to future events or
future performance, management's expectations regarding the timing and amount
of purchases of Shares, if any, made under the NCIB, as well as the benefits
of such purchases, including providing flexibility to the Company in managing
its capital position. Such forward-looking information reflects management's
current beliefs and is based on information currently available to management.
Often, but not always, forward-looking statements can be identified by the use
of words such as "plans", "expects", "is expected", "budget", "scheduled",
"estimates", "forecasts", "predicts", "intends", "targets", "aims",
"anticipates" or "believes" or variations (including negative variations) of
such words and phrases or may be identified by statements to the effect that
certain actions "may", "could", "should", "would", "might" or "will" be taken,
occur or be achieved. A number of known and unknown risks, uncertainties and
other factors may cause the actual results or performance to materially differ
from any future results or performance expressed or implied by the
forward-looking information. Such factors include, among others, the ability
of the Company to satisfy any interest payments, which may be affected by such
factors as general business, economic, competitive, political and social
uncertainties; the actual results of current geothermal, solar and hydro
energy production, development and/or exploration activities and the accuracy
of probability simulations prepared to predict prospective geothermal
resources; changes in project parameters as plans continue to be refined;
possible variations of production rates; failure of plant, equipment or
processes to operate as anticipated; accidents, labour disputes and other
risks of the geothermal and hydro power industries; political instability or
insurrection or war; labour force availability and turnover; delays in
obtaining governmental approvals or in the completion of development or
construction activities, or in the commencement of operations; the ability of
the Company to continue as a going concern and general economic conditions, as
well as those factors discussed in the section entitled "Risk Factors" in the
Company's Annual Information Form. These factors should be considered
carefully and readers of this press release should not place undue reliance on
forward-looking information.

Although the forward-looking information contained in this press release is
based upon what management believes to be reasonable assumptions, there can be
no assurance that such forward-looking information will prove to be accurate,
as actual results and future events could differ materially from those
anticipated in such information. Accordingly, readers should not place undue
reliance on forward-looking information. The information in this press
release, including such forward-looking information, is made as of the date of
this press release and, other than as required by applicable securities laws,
Polaris assumes no obligation to update or revise such information to reflect
new events or circumstances.

SOURCE: Polaris Renewable Energy Inc.

 

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