Investors

Share Buybacks

Since 2021, Amerigo's Board of Directors established a policy to return capital to shareholders through dividends and share repurchases.

Amerigo repurchases shares for cancellation through Substantial and Normal Course Issuer Bids.

A Substantial Issuer Bid was completed in November 2021, under which Amerigo acquired 7,116,345 common shares at Cdn$1.30 per share.

On December 2, 2021, Amerigo initiated a Normal Course Issuer Bid ("NCIB") to repurchase for cancellation up to 10,750,000 common shares over one year. On June 21, 2022, Amerigo completed the NCIB, retiring 10,750,000 common shares at an average price of Cdn$1.62 per share.

On December 2, 2022, Amerigo renewed the NCIB to repurchase for cancellation up to 10,900,000 common shares over one year. Amerigo retired 2,281,187 common shares at an average price of Cdn$1.57 per share.

On December 2, 2023, Amerigo renewed the NCIB, under which it can repurchase for cancellation up to 11,080,000 common shares over one year.

Under the NCIB, common shares may be purchased in open market transactions on the TSX at the prevailing market price at the time of such transaction. Under TSX rules, the total number of common shares Amerigo is permitted to purchase is subject to a daily limit of 62,016. However, Amerigo may make one block purchase per calendar week which exceeds the daily purchase restriction.

Amerigo determines the number of common shares purchased under the NCIB and the timing of such purchases. There cannot be any assurance as to how many common shares will ultimately be acquired by Amerigo under the NCIB. Amerigo has currently paused share buybacks under the NCIB.

The table below reports the monthly activity under the NCIB: