PREMIER GOLD MINES LIMITED (“Premier” or the “Company”) (TSX:PG) announced today that it has received the approval of the Toronto Stock Exchange (the “TSX”) for a normal course issuer bid (the “Bid”) to purchase up to 19,599,646 of its issued and outstanding common shares (the “Common Shares”).
Purchases under the Bid may commence on July 25, 2017 and will terminate on July 24, 2018, or on such earlier date as the Bid is complete. Purchases of Common Shares will be made through the facilities of the TSX in accordance with its rules. Purchases under the Bid may also be made through alternative Canadian trading systems. The average daily trading volume of the Common Shares for the previous six calendar months (“ADTV”) was 1,038,808 Common Shares. Subject to the TSX’s block purchase exception, on any trading day, purchases under the Bid will not exceed 259,702 Common Shares (25% of the ADTV). The price that the Company will pay for any Common Shares purchased under the Bid will be the prevailing market price at the time of purchase. Any Common Shares purchased by the Company will be cancelled.