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Medical Facilities Corporation Announces OSC Relief in Substantial Issuer Bid
Medical Facilities Corporation Announces OSC Relief in Substantial Issuer Bid C...
About this update from Medical Facilities Corporation
[{"type":"text","content":"\n \n \n \n Medical Facilities Corporation Announces OSC Relief in Substantial Issuer Bid\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n TORONTO\n \n \n ,\n \n \n Oct. 13, 2022\n \n \n /CNW/ - Medical Facilities Corporation (TSX: DR) (\"Medical Facilities\" or the \"Company\") announced today that, in connection with the Company's ongoing substantial issuer bid (the \"Offer\"), the Ontario Securities Commission (the \"OSC\") has granted an order (the \"Relief Order\") permitting Medical Facilities to extend the Offer, if it determines to do so, without first taking up any common shares (the \"Common Shares\") previously deposited. For technical reasons the Offer could not be extended without the Relief Order.\n \n \n At this time, Medical Facilities has not yet determined if it will extend the Offer, and the expiration of the Offer remains\n \n 5:00 PM (Eastern time)\n \n on\n \n October 24, 2022\n \n . In the event the Offer is extended, the Company will provide a further news release disclosing the details of such extension.\n \n \n Medical Facilities will fund purchases of Common Shares pursuant to the Offer from cash on hand and/or from a drawdown on the revolving credit facility available under the amended and restated credit agreement dated as of\n \n August 31, 2022\n \n , between, among others, the Company and National Bank Financial Markets, as lead arranger and bookrunner. A copy of the agreement, which includes the terms of that facility, and detailed descriptions of those terms, are included in Medical Facilities' public disclosure materials, all of which are available on SEDAR at\n \n www.sedar.com\n \n .\n \n \n Details of the Offer, including instructions for tendering Common Shares, are included in the Circular, letter of transmittal and the notice of guaranteed delivery (collectively, the \"Offer Documents\"). The Offer Documents are available on SEDAR at\n \n www.sedar.com\n \n , as well as on the Company's website at\n \n www.medicalfacilitiescorp.ca\n \n . Shareholders should carefully read the Offer Do...