Western Star Resources Inc. (CSE: WSR) (OTC: WSRIF) (FRA: 4K2) announced that the Canadian Securities Exchange (CSE) has accepted the company's notice 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 beginning July 2, 2026 and ending July 2, 2027.
The purchases will be conducted through the facilities of the CSE and alternative Canadian trading systems at prevailing market prices, in accordance with securities laws and CSE policies. Haywood Securities Inc. has been appointed as the purchasing dealer and trader to facilitate the NCIB. All shares acquired under the bid will be cancelled.
The decision reflects the board and management's view that the market price of Western Star's common shares may not adequately reflect their underlying value. The company believes the repurchase program 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 purchases will be determined by management based on market conditions and CSE requirements, with no obligation to acquire a specific number of shares.
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. This strategic move positions Western Star 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 totaling 4,740 hectares in the Revelstoke mining division of British Columbia, located approximately 50 kilometers southeast of Revelstoke and 10 kilometers north of the abandoned community of Camborne.
The NCIB announcement underscores Western Star's commitment to enhancing shareholder value while pursuing its strategic objectives in the critical minerals sector. For more details, view the original release at newmediawire.com.
