Till Capital Announces Normal Course Issuer Bid

HAMILTON, Bermuda, Dec. 01, 2016 (GLOBE NEWSWIRE) -- Till Capital Ltd. (Nasdaq:TIL) (TSX-V:TIL) (the " Company" or " Till"), announces that it has initiated a new normal course issuer bid (" NCIB").  Under the new NCIB, Till Capital intends to bid for up to 262,860 common shares, representing 10% of the 2,628,600 shares forming Till's public float. As at November 30, 2016 there were 3,429,284 shares of Till outstanding.

The board of directors of the Company believes that the current and recent market prices for the Company's common shares do not give full effect to their underlying value and that, accordingly, the purchase of common shares under the NCIB will increase the proportionate share interest of, and be advantageous to, all remaining shareholders. The Company also believes the NCIB purchases will provide increased liquidity to current shareholders who would like to sell their shares.  Purchased shares will be returned to treasury and cancelled.  The bid will commence no earlier than three trading days following receipt of approval of the TSXV and will terminate one year from such date, or such earlier time as the applicable bid is completed or at the option of the Company.  Purchases subject to the bid will be carried out pursuant to open market transactions through the facilities of the TSXV/Nasdaq by Canaccord Genuity on behalf of Till.  

Under a prior normal course issuer bid, which commenced on October 13, 2015 and expired on October 13, 2016, Till purchased 79,000 common shares through open market purchases, all of which have been returned to treasury. The effective dates for the new NCIB will be December 7, 2016 to December 6, 2017.

The Company also announces, that it has granted a total of 11,000 incentive stock options to officers and employees under the Company's Stock Option Plan. The options are exercisable at $7.00 per share and will expire five years from the grant date of December 1, 2016. Following this grant of options, the Company has 119,952 stock options outstanding.