Kolibri Global Energy Inc. Announces TSX Approval of Normal Course Issuer Bid

Kolibri Global Energy Inc. (TSX: KEI, NASDAQ: KGEI) has received TSX approval for a normal course issuer bid to repurchase up to 1,786,798 common shares, representing 5% of its outstanding shares. The buyback will occur over one year, from September 23, 2024, to September 22, 2025, through TSX, Nasdaq, and other Canadian trading platforms. The company will pay prevailing market prices, with daily purchase limits of 2,889 shares on TSX and 25% of average daily volume on Nasdaq. Kolibri’s board believes the share price may not reflect the company’s underlying value, making the buyback an appropriate use of funds. Purchases will be financed from working capital, subject to cash distribution restrictions from its subsidiary under an existing credit facility.Read More