AND Andlauer Heathcare Group Inc

TORONTO, June 20, 2024 /CNW/ - Andlauer Healthcare Group Inc. (TSX: AND) ("AHG" or the "Company") today announced the preliminary results of its substantial issuer bid (the "Offer"), pursuant to which AHG offered to purchase for cancellation up to 2,000,000 subordinate voting shares of the Company ("Shares") at a price of $45.00 per Share (the "Purchase Price") for an aggregate purchase price not to exceed $90,000,000. The Offer expired at 5:00 p.m. (Toronto time) on June 19, 2024.

In accordance with the terms and conditions of the Offer and based on the preliminary calculation of TSX Trust Company (the "Depositary") as depositary for the Offer, AHG expects to take up and pay for 2,000,000 Shares (including certain multiple voting shares ("Multiple Voting Shares") on an as-converted basis) at the Purchase Price, representing an aggregate purchase price of $90,000,000. The Shares expected to be purchased under the Offer represent approximately 4.8% of the total number of AHG's issued and outstanding Shares and Multiple Voting Shares before giving effect to the Offer and on a non-diluted basis. After giving effect to the Offer, AHG expects to have 18,704,628 Shares and 20,807,955 Multiple Voting Shares issued and outstanding. 

Andlauer Management Group Inc. ("AMG") beneficially owned 10,200 Shares and 21,840,000 Multiple Voting Shares prior to the launch of the Offer, representing in the aggregate approximately 52.8% of the Company's issued and outstanding Shares and Multiple Voting Shares. After giving effect to the Offer, AMG is expected to own 10,200 Shares and 20,807,955 Multiple Voting Shares, representing in the aggregate approximately 52.7% of the Company's issued and outstanding Shares and Multiple Voting Shares. AMG is wholly-owned by the Company's Chief Executive Officer, Michael Andlauer.

No Shares or Multiple Voting Shares were tendered through notices of guaranteed delivery. As the total number of Shares tendered is more than the total that can be purchased by the Company under the terms of the Offer, holders of Shares or Multiple Voting Shares, including AMG, are expected to have approximately 8.5% of the Shares or Multiple Voting Shares which they validly deposited and did not withdraw taken up and purchased by the Company.

The above details are preliminary and remain subject to verification by the Depositary. Upon take up and payment of the Shares purchased, AHG will release the final results.

The full details of the Offer are described in the offer to purchase and issuer bid circular dated May 14, 2024, as well as the related letter of transmittal and notice of guaranteed delivery, copies of which were filed and are available under our profile on SEDAR+ at www.sedarplus.ca.

This press release is for informational purposes only and does not constitute an offer to buy or the solicitation of an offer to sell Shares.

AHG is a leading and growing supply chain management company offering a robust platform of customized third-party logistics ("3PL") and specialized transportation solutions for the healthcare sector. The Company's 3PL services include customized logistics, distribution and packaging solutions for healthcare manufacturers across Canada. AHG's specialized transportation services in Canada, including air freight forwarding, ground transportation, dedicated delivery and last mile services, provide a one-stop shop for clients' healthcare transportation needs. Through its complementary service offerings, available across a coast-to-coast distribution network, AHG strives to accommodate the full range of its clients' specialized supply chain needs on an integrated and efficient basis. The Company also provides specialized ground transportation services, primarily to the healthcare sector, across the 48 contiguous U.S. states. For more information on AHG, please visit: www.andlauerhealthcare.com.

This news release may contain "forward-looking information" and "forward-looking statements" (collectively, "forward-looking information") within the meaning of applicable securities laws, including, without limitation, statements related to the Offer (including expected purchases of Shares tendered under the Offer, the number of Shares and Multiple Voting Shares expected to be issued and outstanding after completion of the Offer and AMG's expected ownership following the Offer), and other statements that are not historical facts.

This forward-looking information is based on our opinions, estimates and assumptions that, while considered by the Company to be appropriate and reasonable as of the date of this press release, are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information, including but not limited to the "Risk Factors" section in our Annual Information Form, available free of charge under the Company's profile on SEDAR+ at www.sedarplus.ca.

If any of these risks or uncertainties materialize, or if the opinions, estimates or assumptions underlying the forward-looking information prove incorrect, actual results or future events might vary materially from those anticipated in the forward-looking information. Although we have attempted to identify important risk factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other risk factors not presently known to us or that we presently believe are not material that could also cause actual results or future events to differ materially from those expressed in such forward-looking information. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. No forward-looking statement is a guarantee of future results. Accordingly, investors should not place undue reliance on forward-looking information, which speaks only as of the date made. The forward-looking information contained in this press release represents our expectations as of the date specified herein and are subject to change after such date. However, we disclaim any intention or obligation or undertaking to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required under applicable securities laws.

All of the forward-looking information contained in this press release is expressly qualified by the foregoing cautionary statements.

SOURCE Andlauer Healthcare Group Inc.