Melcor announces that it has completed allowable purchases under its NCIB

EDMONTON, Alberta, Dec. 23, 2022 (GLOBE NEWSWIRE) -- Melcor Developments Ltd. (TSX: MRD), an Alberta-based real estate development and asset management company, today announced that is has completed all purchases allowed under its normal course issuer bid (NCIB). The NCIB commenced April 1, 2022 and allowed the purchase and cancellation of up to 1,641,627 common shares over a twelve month period, with a daily repurchase limit of 1,281 shares, as well as the ability to acquire shares under a block purchase exception. Shares were purchased at a weighted cost of $11.88 per share, including six block purchases (which totaled 1,439,844 shares).

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