TORONTO, April 15, 2026 /CNW/ - Chemtrade Logistics Income Fund (TSX: CHE.UN) ("Chemtrade" or the "Fund") today announced the early termination of its existing normal course issuer bid which commenced on August 19, 2025 and had an expiry date of August 18, 2026 (the "Terminated NCIB") and the commencement of a new normal course issuer bid ("NCIB"). The Toronto Stock Exchange ("TSX") has accepted its notice of intention to commence the NCIB.
As of April 10, 2026, under the Terminated NCIB, the Fund purchased for cancellation, through the facilities of the TSX and/or alternative Canadian trading systems, 5,277,900 units out of the 11,231,131 units it was authorized to purchase at a volume weighted average price of $14.55 per unit, for total cash consideration of approximately $76 million. As a result of the early termination and commencement of the new NCIB, the 5,277,900 units purchased under the Terminated NCIB will be deducted from the maximum number of units that may be purchased under the NCIB as per the requirements of the TSX.
Under the NCIB, Chemtrade is authorized to purchase up to 11,111,948 units , representing approximately 10% of Chemtrade's public float (being 111,119,484 units) as of April 10, 2026, less the 5,277,900 units purchased under the Terminated NCIB, for net new purchases of up to 5,834,048 units (out of the 111,736,394 units outstanding as of April 10, 2026). The NCIB commences on April 17, 2026 and will terminate on April 16, 2027, or such earlier date that Chemtrade completes purchases.
Purchases of units will be effected through the facilities of the TSX and/or alternative Canadian trading systems and will be made by means of open market transactions, or such other means as may be permitted by the TSX, including block purchases of units. Under the TSX rules, daily purchases on the TSX will be limited to a maximum of 53,231 units, being the daily purchase limit under the Terminated NCIB, representing 25% of the average daily trading volume on the TSX for the six months ended July 31, 2025 (being 212,925 units), except where purchases are made in accordance with the block purchase exception of the TSX rules. All units purchased by Chemtrade under the NCIB will be cancelled.
The price that Chemtrade will pay for any units acquired by it will be the market price of the units on the TSX and/or alternative Canadian trading systems at the time of acquisition or such other price as may be permitted by the TSX.
Chemtrade may from time to time determine as part of its capital allocation strategy that buying back units is an appropriate use of funds. In deciding to renew the NCIB, the Board of Trustees of Chemtrade believes that from time to time the units trade in a price range that does not adequately reflect the value of the units in relation to Chemtrade's business and its future business prospects. The NCIB will provide the Fund with the flexibility to acquire units in order to return capital to unitholders as part of its overall capital management strategy. Although Chemtrade presently intends to purchase units under its NCIB, there can be no assurances that any such purchases will be completed and purchases may be suspended by Chemtrade at any time.
In connection with the NCIB, Chemtrade has entered into an automatic purchase plan with its designated broker to allow for purchases of units during certain pre-determined blackout periods, subject to certain parameters as to price and number of units. Outside of these pre-determined black-out periods, units will be purchased in accordance with management's discretion, subject to applicable law. The plan constitutes an automatic plan for purposes of applicable Canadian securities legislation and has been pre-cleared by the TSX.
About Chemtrade Logistics Income Fund
Chemtrade operates a diversified business providing industrial chemicals and services to customers in North America and around the world. Chemtrade is one of North America's largest suppliers of sulphuric acid, spent acid processing services, inorganic coagulants for water treatment, sodium chlorate, sodium nitrite and sodium hydrosulphite. Chemtrade is also a leading producer of high purity sulphuric acid for the semiconductor industry in North America. Chemtrade is a leading regional supplier of sulphur, chlor-alkali products, and zinc oxide. Additionally, Chemtrade provides value-added water solutions, as well as industrial services such as processing by-products and waste streams.
Caution Regarding Forward-Looking Statements
Certain statements contained in this news release constitute forward-looking statements within the meaning of certain securities laws, including the Securities Act (Ontario). Forward-looking statements can be generally identified by the use of words such as "anticipate", "continue", "estimate", "expect", "expected", "intend", "may", "will", "project", "plan", "should", "believe" and similar expressions. Specifically, forward-looking statements in this news release include statements respecting certain future expectations about the NCIB, any purchases of units thereunder, , and the return of capital to unitholders.
Forward-looking statements in this news release describe the expectations of the Fund and its subsidiaries as of the date hereof. These statements are based on assumptions and involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements for a variety of reasons, including without limitation the risks and uncertainties detailed under the "Risk Factors" section of the Fund's latest Annual Information Form and the "Risks and Uncertainties" section of the Fund's most recent Management's Discussion & Analysis.
Although the Fund believes the expectations reflected in these forward-looking statements and the assumptions upon which they are based are reasonable, no assurance can be given that actual results will be consistent with such forward-looking statements, and they should not be unduly relied upon. With respect to the forward-looking statements contained in this news release, the Fund has made assumptions regarding there being no significant disruptions affecting the operations of the Fund and its subsidiaries.
Except as required by law, the Fund does not undertake to update or revise any forward-looking statements, whether as a result of new information, future events or for any other reason. The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement.
Further information can be found in the disclosure documents filed by Chemtrade Logistics Income Fund with the securities regulatory authorities, available at www.sedarplus.com.
SOURCE Chemtrade Logistics Income Fund
View original content: http://www.newswire.ca/en/releases/archive/April2026/15/c5969.html
For further information: Endri Leno, Vice President, Investor Relations, investor-relations@chemtradelogistics.com