MCI Onehealth Implements Automatic Share Purchase Plan
July 08 2021 - 6:55AM
MCI Onehealth Technologies Inc.
("
MCI") (TSX: DRDR), a clinician-led healthcare
technology company focused on increasing access to and quality of
healthcare, has entered into an automatic share purchase plan (the
“
ASPP”) with TD Securities Inc., its designated
broker, to facilitate repurchases of MCI’s Class A Subordinate
Voting Shares (the “
Shares”) under its previously
announced normal course issuer bid (the “
NCIB”).
The ASPP is intended to allow for the purchase of Shares under the
NCIB at times when MCI may not ordinarily be permitted to purchase
its shares due to regulatory restrictions and self-imposed blackout
periods.
Under the current terms of the NCIB, which
commenced on May 19, 2021, MCI can purchase up to
2,435,129 Shares until the expiry of the NCIB on May 18, 2022.
For further details regarding the NCIB, please see MCI’s press
release dated May 17, 2021, a copy of which is available under
MCI’s profile on SEDAR at www.sedar.com.
Pursuant to the ASPP, the designated broker is
authorized to purchase up to 320,000 Shares commencing on July 12,
2021 until the expiry of the NCIB on May 18, 2022. Such purchases
will be determined by the broker at its sole discretion based on
the purchasing parameters set out by the Corporation in accordance
with the rules of the Toronto Stock Exchange (the
“TSX”), applicable securities laws and the terms
of the ASPP. The ASPP has been pre-cleared by the TSX and shall be
implemented effective today, July 8, 2021. The ASPP will terminate
on the earlier of the date on which: (i) the NCIB expires; and (ii)
the Corporation terminates the ASPP in accordance with its
terms.
Outside of the ASPP, Shares may continue to be
purchased under the NCIB based on management’s discretion, in
compliance with the rules of the TSX and applicable securities
laws. All purchases made under the ASPP will be included in the
number of Shares available for purchase and cancellation under the
NCIB.
About MCI:
MCI is a healthcare technology company focused
on empowering patients and doctors with advanced technologies to
increase access, improve quality, and reduce healthcare costs. As
part of the healthcare community for over 30 years, MCI operates
one of Canada’s leading primary care networks with 25 clinics,
serves over 850,000 patients annually and had over 200,000
telehealth visits last year. MCI additionally offers an expanding
suite of occupational health service offerings that support a
growing list of over 400 corporate customers. Led by a proven
management team of doctors and experienced executives, MCI remains
focused on executing a strategy centered around acquiring
technology and health services that complement the company’s
current roadmap.
For more information, visit mcionehealth.com.
For IR enquiries please contact:Fernando
Massalin | ir@mcionehealth.com | +1 (416) 440-4040 ext 155
For media enquiries please contact:Nolan Reeds
| nolan@mcionehealth.com | +1 (416) 440-4040 ext 158
Forward-Looking Statements
This press release contains forward-looking
information and forward-looking statements (together,
“forward-looking statements”) within the meaning
of applicable securities legislation, which reflect MCI’s current
expectations regarding future events, including statements relating
to: the NCIB, the number of Shares that can be purchased under the
NCIB (including the expected benefits thereof), the scope and
timing of purchases under the NCIB and the availability of Shares
for purchase under the ASPP in accordance with the NCIB. In some
cases, but not necessarily in all cases, forward-looking statements
can be identified by the use of words or phrases such as “allows”,
“future”, “revolutionizing”, “up to”, “towards”, “aims to”, “just
the beginning”, “expanding” or variations of such words and phrases
or state that certain actions, events or results “may”, “could”,
“would”, “might” or “will” occur. Forward-looking statements are
based on a number of assumptions and is subject to a number of
risks and uncertainties, many of which are beyond MCI’s control,
which could cause actual results and events to differ materially
from those that are disclosed in or implied by such forward-looking
statements. Such risks and uncertainties include execution risk,
market risk, industry risk, the impact of general economic
conditions and competition from other industry participants and
stock market volatility, which could cause actual results and
events to differ materially from those that are disclosed in or
implied by such forward‐looking statements and other factors
discussed under “Risk Factors” in the Company’s annual information
form for the year ended December 31, 2020 which is available under
the Company’s profile on SEDAR at www.sedar.com. All
forward-looking statements made in this press release are made as
of the date hereof and MCI does not undertake any obligation to
update such forward-looking statements, whether as a result of new
information, future events or otherwise, except as expressly
required by applicable law.
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