#solar energy #Canada #Toronto #TSX Venture #Westbridge Renewable

Westbridge Renewable Energy Launches Normal Course Issuer Bid

Toronto, Canada – June 6, 2025 – Westbridge Renewable Energy Corporation (TSXV: WEB) has officially received approval from the TSX Venture Exchange for a Normal Course Issuer Bid (NCIB) program. This initiative aims to empower the company to buy back its own shares over the next year, commencing on June 9, 2025, and concluding by June 8, 2026, unless the maximum number of shares permitted is repurchased sooner.

Westbridge Renewable currently has a total of 101,149,851 common shares outstanding. Under the NCIB, the company is allowed to purchase up to 5,057,492 shares, which is approximately 5% of the total outstanding shares. Purchases will be conducted via the TSXV at prevailing market prices, adhering to all applicable regulations. Notably, any shares acquired through this program will be canceled and returned to treasury, which means they will no longer have an impact on the total shares outstanding.

The motivation behind the NCIB stems from the board of directors’ belief that the market price of the company’s shares does not fully reflect the true value of its operations. By repurchasing shares, Westbridge aims to utilize its financial resources effectively and communicate confidence in the company’s future performance, all while enhancing the value for shareholders.

As confirmed in a previous announcement back in March 2025, the company had implemented a prior NCIB, which initiated on March 21, 2024, and concluded on March 20, 2025, resulting in the repurchase and cancellation of 693,800 shares. Westbridge has designated Canaccord Genuity Corp. to execute purchases for this NCIB, managing the process on behalf of the company.

Background on Westbridge Renewable Energy

Westbridge Renewable Energy Corp. specializes in the origin, development, and monetization of utility-scale solar PV projects. With a strategic focus on creating a diversified portfolio across key markets such as Canada, the USA, the UK, and Italy, Westbridge aims to offer long-term returns to both its investors and utilities. The management team boasts a robust track record with over 40 projects developed globally, reinforcing their commitment to providing clean, sustainable electricity.

With the global emphasis on renewable energy adoption, Westbridge positions itself as one of the few publicly-listed entities within the Canadian market dedicated to solar development. This places them in a unique position to seize early-stage investment opportunities within the solar energy landscape while embracing the full value chain associated with renewable resources.

The NCIB program further aligns with the company’s strategy to deliver value not just through prospective projects but also by enhancing existing shareholder equity through intelligent financial maneuvers such as share repurchases. While Westbridge is optimistic about this NCIB's potential impact, there remain risks associated with market performance and regulatory approvals that could affect execution.

As we move towards a more sustainable future, companies like Westbridge, with a clear focus on renewable resources and shareholder enhancement strategies, play a crucial role in the transition to cleaner energy solutions. The forthcoming year will be telling as Westbridge implements its NCIB and aims to stabilize and elevate its market position.