Western Star Resources Inc. (CSE: WSR) (OTC: WSRIF) (FRA: 4K2) announced that the Canadian Securities Exchange (CSE) has accepted the company's notice of intention to commence a normal course issuer bid (NCIB). Under the NCIB, Western Star may purchase for cancellation up to 3,842,295 common shares, representing 10% of the company's public float, during the twelve-month period from July 2, 2026 to July 2, 2027, or until the company completes its purchases under the bid.
Purchases under the NCIB will be made through the facilities of the CSE and/or alternative Canadian trading systems at prevailing market prices, in accordance with applicable securities laws and CSE policies. All common shares purchased will be cancelled. The company has appointed Haywood Securities Inc. as its purchasing dealer and trader to carry out the NCIB.
The Board of Directors and management believe that, from time to time, the market price of the company's common shares may not adequately reflect their underlying value. Accordingly, the company believes that the repurchase of common shares under the NCIB represents an appropriate use of available financial resources and is in the best interests of the company and its shareholders. The timing and amount of any purchases will be determined by management, subject to applicable laws, market conditions, and CSE requirements. The company is not obligated to acquire any specific number of shares, and purchases may be suspended or discontinued at any time.
Western Star Resources is an emerging junior mineral exploration company focused on revitalizing North America's tungsten supply. The company is advancing its entry into the U.S. market through the acquisition of a past-producing tungsten mine in Nevada, one of America's most important historic tungsten districts. With this strategic move, Western Star is positioning itself to play a leading role in re-establishing a secure, domestic source of this critical mineral. The company also owns nine non-surveyed contiguous mineral claims totalling 4,740 hectares located within the Revelstoke mining division of British Columbia, approximately 50 kilometres southeast of Revelstoke, B.C., and roughly 10 kilometres north of the abandoned community of Camborne.
This NCIB announcement comes as Western Star focuses on strengthening its financial position and signaling confidence in its future prospects. By repurchasing shares, the company aims to enhance shareholder value while maintaining flexibility to pursue its strategic objectives in the tungsten sector.
