Metatek-Group Ltd. Receives TSX Approval to Repurchase Up to 2.46 Million Shares via Normal Course Issuer Bid

Toronto Stock Exchange Approves Metatek-Group’s Share Buyback Plan

On July 15, 2026, Metatek-Group Ltd. announced it obtained formal approval from the Toronto Stock Exchange to proceed with a Normal Course Issuer Bid. The NCIB is set to begin on July 17, 2026, and will continue until the earlier of July 16, 2027, the purchase of the maximum allowed shares, or an earlier termination by the company. This regulatory approval is a standard requirement for TSX-listed companies intending to conduct open-market share repurchases.

Issued from Calgary, Alberta, and disseminated via Newsfile Corp, the company’s common shares trade under the ticker MTEK on the TSX. The NCIB complies with Canadian securities regulations governing repurchase programmes, with TSX’s approval confirming Metatek’s adherence to these rules. Immediate effects on the share price were not evident from public data.

Repurchase Limits and Daily Trading Caps Under the NCIB

The approved NCIB permits Metatek-Group to acquire up to 2,461,323 common shares during the 12-month programme. This amount equals approximately 5% of the 49,226,477 shares outstanding as of July 7, 2026. Purchases may occur on the TSX or eligible Canadian alternative trading systems.

Daily purchases are capped at 6,597 shares, except for certain block purchase exemptions under TSX rules. This daily limit corresponds to 25% of MTEK’s average daily trading volume of 26,391 shares, calculated from the company’s IPO through June 30, 2026. These restrictions align with TSX’s standard NCIB guidelines designed to maintain orderly market activity during buybacks.

Management’s Perspective: Share Undervaluation and Enhancing Shareholder Value

According to the announcement, Metatek-Group’s management believes the market price of its shares may not always reflect their true value. The company views repurchasing shares during such periods as an attractive investment that benefits both the company and its shareholders. This rationale is commonly cited by issuers initiating NCIBs and reflects a strategic assessment of intrinsic versus market value.

The disclosure also highlights that share buybacks under the NCIB will increase the proportional ownership of remaining shareholders by reducing the total outstanding shares. However, management did not specify financial metrics, valuation targets, or price points guiding the timing or scale of repurchases.

All Repurchased Shares to Be Cancelled, Not Held as Treasury Stock

A key feature of this NCIB is that all repurchased shares will be cancelled immediately, permanently lowering the total number of shares outstanding. This contrasts with some jurisdictions where repurchased shares are held as treasury stock and may be reissued later. The cancellation approach has a more definitive impact on per-share metrics over time.

If the full 2,461,323 shares are repurchased and cancelled, the outstanding shares would decrease from approximately 49.2 million to about 46.8 million. The company has not provided a timeline or schedule for executing the buyback, which will depend on market conditions, financial position, and management’s discretion.

Canaccord Genuity Selected as Broker to Oversee the NCIB

Metatek-Group has appointed Canaccord Genuity, a prominent Canadian investment dealer, to administer the NCIB. Canaccord Genuity’s role includes ensuring that share repurchases comply with TSX rules and regulatory requirements. The release did not disclose brokerage fees or specific operational details of the arrangement.

Engaging a recognized broker adds regulatory oversight and market integrity to the repurchase process, which is standard practice for TSX-compliant NCIBs.

About Metatek-Group: Geophysical Services for Critical Minerals and Energy Exploration

Metatek-Group is a UK-based geophysical services company specializing in high-definition subsurface mapping to support exploration and development of strategic minerals, energy resources, including hydrocarbons, helium, and hydrogen. The company offers rapid data acquisition, processing, and scientific interpretation across air, land, and sea environments, positioning itself as a faster, less invasive alternative to traditional seismic surveys.

The company supports national energy security and expedites discoveries of hydrocarbons, critical minerals such as lithium, nickel, and copper, as well as natural hydrogen and geothermal reservoirs. Despite its UK headquarters, Metatek is listed on the Toronto Stock Exchange, reflecting a cross-border capital market structure relevant to investors in Canadian-listed international companies.

Understanding NCIBs on the TSX: Implications for MTEK Investors

A Normal Course Issuer Bid allows TSX-listed companies to repurchase shares on the open market within defined limits. NCIBs are commonly used by cash-generative companies to return value to shareholders when shares trade below intrinsic value or to offset dilution from equity compensation.

For MTEK shareholders, the NCIB announcement signals management’s view that the current share price offers repurchase value. However, the existence of an NCIB does not guarantee share purchases or price appreciation. Actual outcomes depend on market conditions, liquidity, and management’s ongoing evaluation. The release includes standard forward-looking statements disclaimers noting that actual results may differ materially.

Forward-Looking Statements and Risk Factors

The announcement contains forward-looking information as defined by Canadian securities laws, including potential future share repurchases under the NCIB. While Metatek believes its assumptions are reasonable, there is no assurance they will prove accurate. Actual results could vary significantly.

Investors are encouraged to review risk disclosures in the company’s latest Annual Information Form filed on SEDAR+ for comprehensive details on factors that could impact outcomes. The company also notes that the information is current as of the announcement date and does not undertake to update forward-looking statements except as required by law. The release is not intended for distribution in the United States or via U.S. newswire services.

Investor Outlook: Tracking MTEK’s Share Buyback Activity

Investors should monitor Metatek-Group’s regulatory filings for updates on NCIB activity, as Canadian rules require periodic disclosure of repurchase volumes. These reports provide insights into management’s execution of the buyback strategy and timing.

With a daily purchase limit of 6,597 shares against an average daily volume of 26,391 shares, the programme represents a significant but measured market presence. Shareholders will also watch for operational developments related to Metatek’s geophysical services, client engagements, and exploration data updates, all of which may influence share price and buyback decisions. No specific operational or financial updates were provided in this announcement.