Griffin Mining Ltd announces delisting and renewal of its share buyback program

Griffin Mining Ltd has announced the removal of 10,297,943 shares previously acquired under its share repurchase programs and held in treasury. After this deletion, the company will have 184,530,477 common shares outstanding. This initiative is part of its financial strategy aimed at optimizing the company's capital structure.

Faced with the undervaluation of its share price, the company also announced the renewal of its share buyback program, initially launched on February 25, 2021 and ending on February 25, 2024. This new program provides for the repurchase up to 10 million common shares from the market, representing a maximum value of $10 million over a six-month period. Purchases will be made on the London Stock Exchange, in accordance with applicable regulations.

This approach aims to return to shareholders excess funds not necessary for the financing and working capital needs of the company. Griffin Mining Ltd also reserves the right to acquire large blocks of shares directly from shareholders or via a tender offer, in compliance with applicable laws.