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Firan Technology Group Corporation announced the acceptance by the Toronto Stock Exchange (TSX) of FTG’s Notice of Intention to Make a Normal Course Issuer Bid (NCIB), renewing the NCIB that expired in August 2025. Pursuant to the NCIB, FTG is authorized to purchase through the facilities of the TSX, from time to time over the next 12 months, if considered advisable, up to an aggregate of 1,258,669 common shares of the Corporation (Common Shares), being approximately 5% of its Common Shares outstanding as of September 16, 2025. As of September 16, 2025, 25,173,390 Common Shares of the Corporation were issued and outstanding. Purchases may commence through the TSX on September 30, 2025 and will conclude on the earlier of the date on which purchases under the bid have been completed and September 29, 2026.
Purchases of Common Shares under the NCIB will be made in accordance with TSX by-laws, rules and policies through the facilities of the TSX and/or through alternative Canadian trading systems. All Common Shares purchased by FTG will be cancelled. The price paid for any repurchased Common Shares will be the market price of such Common Shares at the time of acquisition. The average daily trading volume of the Common Shares of the Corporation from the start of trading on March 1, 2025 through August 31, 2025 was 47,367 Common Shares and, accordingly, daily purchases will be limited to 11,841 Common Shares other than block purchase exemptions.
Under its previous normal course issuer bid approved by the TSX on August 21, 2024, the number of Common Shares that could be repurchased for cancellation was 1,193,740 Common Shares. FTG did not purchase for cancellation any Common Shares under its previous normal course issuer bid. FTG’s previous normal course issuer bid expired on August 25, 2025.
To FTG’s knowledge, none of the directors, officers or other insiders of FTG or any associate of any such persons, or any associate or affiliate of FTG currently intends to sell Common Shares to FTG during the course of the NCIB.
FTG believes that the proposed purchases are in the best interests of FTG and are a desirable use of corporate funds.
