Inter-Rock Announces Normal Course Issuer Bid for Common Shares

Article content

TORONTO, Aug. 24, 2026 (GLOBE NEWSWIRE) — Inter-Rock Minerals Inc. (TSX-V: IRO) (“Inter-Rock” or the “Company”) today announced that it has filed a Notice of Intention and received acceptance from the TSX Venture Exchange (the “TSXV”) to commence a normal course issuer bid (the “NCIB”) to purchase for cancellation from time to time up to an aggregate of 1,000,000 common shares of the Company, representing up to approximately 4.6% of the Company’s 21,649,311 common shares issued and outstanding as of the date hereof, and up to approximately 9.3% of the 10,797,911 common shares, which to the knowledge of the Issuer, are in the Public Float (as such term is defined in the policies of the TSXV). Inter-Rock has engaged Independent Trading Group Inc. to act as broker for the NCIB.

Article content

Article content

Inter-Rock may purchase common shares under the NCIB over the next twelve-month period beginning on or about August 29, 2026. The NCIB will terminate upon the earliest of (i) the Company purchasing 1,000,000 common shares, (ii) the Company providing notice of termination of the NCIB and (iii) August 28, 2027.

Article content

Article content

Article content

Any purchases under the NCIB will be conducted on the open market through the facilities of the TSXV or alternative Canadian trading systems at market prices or by such other means as may be permitted under applicable securities laws. Any daily purchases on the TSXV under the NCIB will be subject to all limitations as set forth in the TSXV’s rules. All common shares purchased by Inter-Rock will be cancelled. The purchase and payment for the common shares will be made in accordance with the requirements of the TSXV and applicable securities laws. The actual number of common shares which may be purchased pursuant to the NCIB will be determined by the board of directors of the Company in its discretion, subject to the maximum of 1,000,000 common shares set out above, and the funding for any purchase pursuant to the NCIB will be from the working capital of the Company.

Article content

Article content

The NCIB is being undertaken as the Company believes the share price of its common shares, from time to time, is not reflective of the underlying value of the Company and its future prospects. The Company believes the purchase of common shares is an appropriate use of its financial resources and is advantageous to shareholders when common shares are purchased at a price below their underlying value and cancelled, as this increases the proportionate share of ownership of the Company for the remaining shareholders. The NCIB will also afford an increased degree of liquidity to those shareholders of Inter-Rock who wish to dispose of their common shares.

Article content

To the knowledge of the Company, none of the directors, senior officers or other insiders of the Company, none of their respective associates and no affiliate or associate of the Company has any present intention to sell any common shares to the Company during the NCIB.

Article content

A copy of the Form 5G – Notice of Intention to Make a Normal Course Issuer Bid filed by the Company with the TSXV in respect of the NCIB can be obtained from the Company upon request without charge.