Precision Drilling renews normal course issuer bid

Precision Drilling announced that the Toronto Stock Exchange has approved its intention to implement a normal course issuer bid for a portion of its common shares. Precision believes the NCIB continues to represent another tool for the company to enhance the value of its underlying shares. Pursuant to the renewed NCIB, the company has been authorized by the TSX to acquire up to a maximum of 1,359,108 Common Shares, or approximately 10% of the public float as of September 5, 2024, for cancellation. As of September 5, 2024, Precision had 14,107,373 Common Shares issued and outstanding and a public float of 13,591,089 Common Shares. Purchases under the NCIB may commence on September 19, 2024 and will terminate no later than September 18, 2025, or such earlier time as the company completes its purchases pursuant to the NCIB or provides notice of termination.