TORONTO, Jan. 10, 2025 (GLOBE NEWSWIRE) -- Northfield Capital Corporation (TSX-V: NFD.A) (“Northfield”) announced today its intention to effect a normal course issuer bid through the facilities of the TSX Venture Exchange.

Northfield may, during the 12-month period commencing January 15, 2025 and ending January 14, 2026, purchase on the TSX Venture Exchange up to 141,701 Class A restricted voting shares in total, representing approximately 5% of the 2,834,032 Class A restricted voting shares currently issued and outstanding. The price which Northfield will pay for any such shares will be the market price at the time of acquisition. The actual number of Class A restricted voting shares which may be purchased and the timing of any such purchases will be determined by Northfield. Northfield has retained Leede Financial Inc. to effect purchases on its behalf pursuant to the bid. Northfield is effecting the bid at this time as it believes that its Class A restricted voting shares are undervalued at their current market prices and that the purchase of Class A restricted voting shares would be a prudent use of funds.

Northfield has not repurchased for cancellation any Class A restricted voting shares pursuant to any normal course issuer bid that existed over the past 12-month period.

About Northfield Capital Corporation

Northfield is a value-based investment and merchant banking company focused on the resource (critical minerals and precious metals) and transportation sectors.

For further information, please contact:

Michael G. Leskovec, CPA, CA
Chief Financial Officer
Telephone: (416) 628-5940

Forward-Looking Statements

Forward-looking statements are included in this news release. These forward-looking statements are identified by the use of terms such as “anticipate”, “believe”, “could”, “estimate”, “expect”, “intend”, “may”, “plan”, “predict”, “project”, “will”, “would”, and “should” and similar terms and phrases, including references to assumptions. Such statements may involve but are not limited to, Northfield’s plans, objectives, expectations and intentions, including statements with respect to the purchase of Class A restricted voting shares. Forward-looking statements, by their nature, are based on assumptions and are subject to important risks and uncertainties. Any forecasts, predictions or forward-looking statements cannot be relied upon due to, among other things, changing external events and general uncertainties of the business and its corporate structure. Results indicated in forward-looking statements may differ materially from actual results for a number of reasons. The forward-looking statements contained herein are subject to change. However, Northfield disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required under applicable securities regulations.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.