Badger announces acceptance of its notice of intention to make a bid from a regular course publisher

CALGARY, Alberta, Aug. 22, 2024 (GLOBE NEWSWIRE) — On August 1, 2024, Badger Infrastructure Solutions Ltd. (“Badger”, the “Company”, “we”, “our” or “us”) (TSX:BDGI) announced that it intended to file with the Toronto Stock Exchange (the “Exchange”) a notice of intention to launch a normalized issuer tender offer (the “Notice”). The Exchange accepted the Notice, which provided for the purchase and cancellation by Badger of up to 861,836 common shares in the capital of the Company (“Common Shares”) during the period beginning on August 26, 2024 and ending on the earlier of: (i) August 25, 2025; (ii) the date on which the number of common shares Badger intends to acquire under its tender offer is purchased; and (iii) the date on which the Company terminates its offer in its sole discretion (the “NCIB”).

The Company believes that the market price of its common stock from time to time may not fully reflect the underlying value of its business and that purchasing common stock for cancellation may provide an opportunity to enhance long-term shareholder returns.