New Stratus Energy Inc. (TSXV:NSE) announces a share repurchase program. Under the normal course issuer bid, the company will repurchase up to 6,024,675 shares, representing 4.99% of its issued share capital. The price paid for the Common Shares will be, subject to pricing rules contained in securities laws, the prevailing market price of such Common Shares on the Exchange at the time of such purchase.

The company intends to fund the repurchases out of available cash. All Common Shares purchased under the Bid will be returned to treasury and cancelled. The program is subject to approval from Toronto Stock Exchange.

The program is valid till July 19, 2023. As of July 13, 2022, the company had 120,493,505 issued and outstanding shares.