Strategic Metals Ltd. Launches New Issuer Bid

Strategic Metals Ltd. (TSXV:SMD) revealed its intention to initiate a new Normal Course Issuer Bid (NCIB) as the current bid is set to expire on December 4, 2024. This strategy aligns with the TSX Venture Exchange Policy 5.6. Since the current bid began, no shares have been purchased. The new bid targets up to 8.5 million common shares, nearly 10% of the public float, with an active period from December 5, 2024, to December 4, 2025.

The decision to commence a new bid stems from Strategic's assessment of global market conditions, which may undervalue its shares. Using available cash, it aims to capitalize on these market fluctuations. Purchases will be discretionary and based on market conditions, with shares returned to treasury for cancellation. Ventum Financial Corp. will manage the new bid.