Granite Ridge Resources announces $50M stock repurchase program and lock-up waiver for 23.6M shares

Granite Ridge Resources, Inc.

Stock repurchase program authorizes up to $50M in open market or private transactions through Dec 31, 2023.
Conflicts Committee waived lock-up restrictions on ~23.6M shares held by Grey Rock funds, representing ~18% of outstanding shares.
Waiver allows Grey Rock to distribute shares to underlying investors for potential resale after S-1 registration.
Table shows 71% of shares (95M) remain locked up until April 2023; public float is 11% (14.6M shares).
CEO states buyback and share distributions aim to increase trading volume and float over time.

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