Outdoor Holding (POWW, POWWP) said Monday the board has approved the buyback of up to $15 million of its common shares over the next 12 months.

The share repurchases may be carried out in open market, privately negotiated transactions, and other means at management's discretion, the company said.

Outdoor also said it will finance the buybacks using existing cash balances, future operating cash flows, or other funds.

Outdoor shares were up more than 6% in recent Monday premarket activity.