Balance, December 31, 2018 387,079,027
Shares repurchased and canceled (6,104,320)
Balance, June 30, 2019 380,974,707
In Q1 2019, the Company implemented a share repurchase program (the “2019 Program”) through the facilities of the Toronto
Stock Exchange ("TSX") and eligible alternative trading platforms in Canada. Under the 2019 Program, the Company is able to
purchase at prevailing market prices up to 19,353,951 shares of Common Stock, representing approximately 5.00% of the issued
and outstanding shares of Common Stock as of March 1, 2019. The 2019 Program will expire on March 12, 2020, or earlier if the
5.00% share maximum is reached.
During the three and six months ended June 30, 2019, the Company repurchased 7,856,425 and 10,442,720 shares at a weighted
average prices of $2.27 and $2.29, respectively. Of the shares repurchased, 743,520 shares at a weighted average price of $2.34
were repurchased under 2018 share repurchase program and 4,338,400 shares at a weighted average price of $2.14 have not been
canceled by the Company and were designated as treasury stock as at June 30, 2019.