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Eldorado Gold Announces Normal Course Issuer Bid

VANCOUVER, British Columbia, Nov. 06, 2024 (GLOBE NEWSWIRE) -- Eldorado Gold Corporation ("Eldorado" or "the Company") announces that the Toronto Stock Exchange (the "TSX") has accepted for filing Eldorado's Notice in respect of a normal course issuer bid (the "NCIB"). Purchases will be made on the open market through the facilities of the TSX and/or alternative Canadian trading systems.

Pursuant to the NCIB, Eldorado may purchase up to 350,000 of its common shares (the "Shares") representing approximately 0.17% of the total 204,909,496 common shares of Eldorado issued and outstanding as at October 31, 2024. Purchases will be made at prevailing market prices commencing November 8, 2024 and ending July 31, 2025. Pursuant to TSX policies, daily purchases will not exceed 83,123 common shares, other than block purchase exceptions. The average daily trading volume for the six-month period from May 1, 2024 to October 31, 2024 was 332,492 common shares. Purchases under the NCIB by Eldorado will be the market price at the time of acquisition.

Eldorado has engaged National Bank Financial Inc. (the "Broker") as its broker under an automatic share purchase plan to undertake purchases under the NCIB. During the term of the automatic share purchase plan, Eldorado will not communicate any material undisclosed information to the trading staff at the Broker, and accordingly the Broker may make purchases regardless of whether a blackout period is in effect or whether there is material undisclosed information about Eldorado at the time purchases are made.

Eldorado believes that the purchase of the Shares would be an effective use of its funds and is an effective strategy to enable it to satisfy its future obligations under its employee restricted share unit plan.

Under the Company's previous normal course issuer bid that commenced on July 4, 2023 and terminated on July 3, ...