Spey may buy back up to 5.18 million shares under NCIB

Oct 27, 2022

2022-10-26 12:08 ET – News Release

Mr. Nader Vatanchi reports

SPEY RESOURCES CORP. ANNOUNCES INTENTION TO COMMENCE NORMAL COURSE ISSUER BID

Spey Resources Corp. intends to commence a normal course issuer bid (NCIB), under which it may purchase up to 5,186,084 of the company’s common shares, representing approximately 5 per cent of its issued and outstanding shares. The company intends to commence the NCIB because it believes that, from time to time, the market price of its shares may not fully reflect the underlying value of the company’s business and future prospects. Spey believes that, at such times, the purchase of shares for cancellation would represent an appropriate use of the company’s financial resources.

The company intends to appoint Research Capital Corp. as its broker to conduct the NCIB on its behalf. The NCIB is expected to commence on or about Nov. 2, 2022, and to terminate on Nov. 2, 2023, or at an earlier date in the event that the number of shares sought under the NCIB have been purchased or if the company believes that it is otherwise appropriate to terminate the NCIB. All shares purchased under the NCIB will be purchased on the open market through the facilities of the Canadian Securities Exchange (CSE). All purchases made under the NCIB will be at the prevailing CSE market price for the shares at the time of purchase. All shares purchased under the NCIB will be cancelled.

About Spey Resources Corp.

Spey Resources is a Canadian mineral exploration company which has an 80-per-cent interest in the Candela 2 lithium brine project located in the Incahuasi salar, Salta province, Argentina. Spey also holds an option to acquire a 100-per-cent undivided interest in Pocitos 2 and a 20-per-cent interest in the Pocitos 1 lithium projects. Spey also holds interests in four lithium exploration projects located in the James Bay region of Quebec. Spey has a 100-per-cent interest in the Silver basin project located in the Revelstoke mining division of British Columbia, as well as an option to acquire a 100-per-cent interest in the Kaslos silver project west of Kaslo, B.C.

We seek Safe Harbor.

https://www.speyresources.ca/