GURU Organic Energy Announces Renewal of Its Normal Course Issuer Bid
MONTREAL, July 22, 2025 (GLOBE NEWSWIRE) -- GURU Organic Energy Corp. (TSX:GURU) ("GURU" or the "Company"), Canada's leading organic energy drink brand1, announced today that the Toronto Stock Exchange (the "TSX") has approved the notice filed by the Company to renew its normal course issuer bid ("NCIB") with respect to its common shares (the "Shares").
The notice provides that GURU may, during the 12-month period commencing July 25, 2025, and ending no later than July 24, 2026, purchase up to 1,514,144 Shares, representing approximately 5% of the 30,282,886 Shares outstanding as at July 14, 2025, through the facilities of the TSX or alternative Canadian trading systems, at times and in numbers to be determined by the Company. All shares purchased under the NCIB will be purchased on the open market and in accordance with the rules and policies of the TSX at the prevailing market prices and cancelled.
The average daily trading volume of the Shares on the TSX for the most recently completed six calendar months is 10,803. Pursuant to the rules and policies of the TSX, daily purchases under the NCIB will be limited to 2,700 Shares, representing 25% of the average daily trading volume, except pursuant to certain prescribed exceptions.
GURU's expansion plans are aimed at growing market share and generating sustainable long-term profitable growth and the great majority of its capital and efforts are allocated to these goals. However, GURU believes that at times, the market price of its Shares may not reflect their full value, and their repurchase in this context represents an appropriate and desirable use of some of the Company's capital. Decisions regarding the actual number of Shares and timing of any purchases or other actions in connection with the NCIB will be made by GURU based on various factors, including prevailing market conditions and the Company's capital and liquidity positions. In addition, GURU may from time to time repurchase Shares under an automatic share purchase plan it may enter into with a broker in the future, which would enable purchases during times when GURU would typically not be permitted to purchase Shares due to regulatory or other reasons.
There can be no assurances that GURU will purchase all or any of the number of Shares that are subject to the NCIB referred to in this press release. GURU may also suspend or discontinue the NCIB at any time.
Under the Company's current NCIB, which expires on July 24, 2025, the Company received approval from the TSX to purchase up to 1,515,778 Shares. Over the past twelve months, the Company has repurchased 100,640 Shares on the open market through the facilities of the TSX and alternative Canadian trading systems, at a volume-weighted average price of $1.8242 per Share.
About GURU ProductsGURU energy drinks are made from a short list of plant-based active ingredients, ...
