Major Drilling Announces Normal Course Issuer Bid

Provided By Globe Newswire

Last update: Mar 23, 2023

MONCTON, New Brunswick, March 23, 2023 (GLOBE NEWSWIRE) -- Major Drilling Group International Inc. (TSX: MDI) (“Major Drilling” or the “Company”), one of the world’s largest drilling services companies primarily serving the mining industry, announced today that the Toronto Stock Exchange ("TSX") has accepted its notice of intention to make a normal course issuer bid (the "NCIB Program") to purchase outstanding common shares of Major Drilling (the "Common Shares") on the open market in accordance with the rules of the TSX. Pursuant to the NCIB Program, Major Drilling may purchase, from time to time, in aggregate up to 4,150,251 Common Shares (being approximately 5% of the 83,005,029 issued and outstanding Common Shares of Major Drilling as of March 15, 2023) over a 12-month period commencing on March 27, 2023 and terminating on March 26, 2024.