Centerra Gold announces TSX acceptance of renewed NCIB

Centerra Gold (CGAU) announced that the Toronto Stock Exchange has accepted its renewal of a normal course issuer bid to purchase for cancellation up to an aggregate of 18,800,929 common shares in the capital of the Company during the twelve-month period commencing on November 7, 2024 and ending on November 6, 2025, representing approximately 8.9% of Centerra’s total issued and outstanding Common Shares, or 10% of the public float. As of November 5, 2024, Centerra had 211,321,285 issued and outstanding Common Shares. Under the NCIB, daily purchases would be limited to 213,230 Common Shares, other than purchases made under block purchase exemptions. Once the NCIB is commenced, the exact timing and amount of any purchases will depend on market conditions and other factors. Centerra will not be obligated to acquire any Common Shares and may suspend or discontinue purchases under the NCIB at any time. Any purchases made under the NCIB will be made at market price at the time of purchase through the facilities of the TSX and/or alternative Canadian trading systems in accordance with applicable securities laws and stock exchange rules. The Company’s previous NCIB authorized the purchase of up to 18,293,896 Common Shares and expires on November 6, 2024. As of October 31, 2024, a total of 5,799,800 Common Shares of the Company were repurchased through the facilities of the TSX and alternative Canadian trading systems at a volume weighted average price of $8.74 per Common Share under the Company’s previous NCIB. Centerra intends to establish an automatic share purchase plan in connection with its renewed NCIB to facilitate the purchase of Common Shares during times when Centerra would ordinarily not be permitted to purchase Common Shares due to regulatory restrictions or self-imposed black-out periods.