Propel Announces Normal Course Issuer Bid
Propel Holdings announced a Normal Course Issuer Bid (NCIB) accepted by the TSX, allowing the company to purchase up to 2,904,140 common shares (roughly 10% of its public float) between November 17, 2026, and November 16, 2027, to enhance shareholder value using available liquidity.
Propel Holdings Inc. ("Propel" or the "Company") (TSX: PRL), the fintech facilitating access to credit for underserved consumers, today announced that the Toronto Stock Exchange (the "TSX") has accepted its notice of intention to proceed with a normal course issuer bid ("NCIB").
The Company's Board of Directors believes that the market price of the common shares may not, from time to time, fully reflect their long-term value. Accordingly, the NCIB is in the best interests of Propel and its shareholders and an attractive and appropriate use of available liquidity.
Pursuant to the notice, the Company may purchase up to 2,904,140 of its common shares ("Shares"), representing approximately 10% of the public float of 29,041,401 Shares as at November 3, 2026, during the twelve-month period commencing November 17, 2026 and ending November 16, 2027. As at November 3, 2026, there were 39,421,867 Shares issued and outstanding. Under the NCIB, other than purchases made under block purchase exemptions, Propel may purchase up to 43,722 Shares on the TSX during any trading day, which represents approximately 25% of 174,889, which represents the average daily trading volume on the TSX for the most recently completed six calendar months prior to the TSX's acceptance of the notice of the NCIB. Any Shares purchased under the NCIB will be cancelled.
The Company's prior normal course issuer bid commenced on November 14, 2025 and expired on November 13, 2026, under which the Company was authorized to purchase for cancellation up to 2,703,439 Shares. The Company purchased 12,000 Shares under the Company's prior normal course issuer bid through open market purchases on the TSX at a volume weighted average price of $18.48 per Share.
Although the Company intends to purchase Shares under its NCIB, there can be no assurances that any such purchases will be completed. Any purchases made under the NCIB will be made by Propel subject to favourable market conditions at the prevailing market price at the time of acquisition through the facilities of the TSX and/or alternative Canadian trading systems. Purchases under the NCIB may be made by means of open market transactions, privately negotiated transactions or such other means as a securities regulatory authority may permit.
About Propel Holdings
Propel Holdings (TSX: PRL) the fintech building a new world of financial opportunity for consumers, partners, and investors. Propel's operating brands -- Fora Credit, CreditFresh, MoneyKey and QuidMarket -- together with Propel Bank facilitate access to credit for consumers underserved by traditional financial institutions. Through its AI-powered platform, Propel evaluates customers in a more comprehensive way than traditional credit scores can. The result is better products and an expanded credit market for consumers while creating sustainable, profitable growth for Propel. The revolutionary fintech platform has already helped consumers access over 2 million loans and lines of credit and over 3 billion dollars in credit. At Propel, we are here to change the way customers, partners and investors succeed together.
Learn more at www.propelholdings.com.
Source : Propel Holdings Inc
