What is the total dollar amount and share count targeted in the NCIB, and how does it compare to Calian's free float?

The filing itself does not disclose the size of the buy‑back. The notice only confirms that Calian has obtained TSX approval to launch a normal‑course issuer bid (NCIB) and that it has set up an automatic share‑purchase plan (ASPP) with its broker. Because the press release omits both the total dollar amount and the number of shares the company intends to repurchase, we cannot calculate the exact proportion of the free‑float that will be targeted.

From a trading perspective, the mere existence of an NCIB tends to create upward pressure on the stock, especially when the company pairs the bid with an ASPP that can absorb incremental market supply. If Calian follows the typical Canadian‑market practice of capping the NCIB at roughly 10 %–15 % of its free‑float, the buy‑back could meaningfully tighten the share supply and support price resilience even in a volatile broader market. Until the company files the detailed NCIB prospectus (which will reveal the exact dollar and share targets), traders should watch for early‑stage buying on the news, monitor the bid‑price announcement, and be prepared for a potential short‑cover rally if the bid is set at a material premium to the current trading level.