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Medicure Announces Renewal of its Normal Course Issuer Bid
Medicure Announces Renewal of its Normal Course Issuer Bid Canada NewsWire WINNI...
About this update from Medicure Inc.
[{"type":"text","content":"\n\n\n\nMedicure Announces Renewal of its Normal Course Issuer Bid\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\nCanada NewsWire\nWINNIPEG, May 30, 2019\n\n\n\nWINNIPEG, May 30, 2019 /CNW/ - Medicure Inc. (\"Medicure\" or the \"Company\") (TSXV:MPH, OTC:MCUJF), a pharmaceutical company, is pleased to announce that the TSX Venture Exchange (\"TSXV\") has accepted the Company's notice of intention to make a normal course issuer bid (\"NCIB\").\nUnder the terms of the NCIB, Medicure may acquire up to an aggregate of 761,141 common shares. In the opinion of the Company, its common shares have been trading at prices that do not reflect its underlying value. Accordingly, Medicure believes that purchasing its common shares for cancellation, at present pricing, represents an opportunity to enhance value for its shareholders.\nAs of May 29, 2019, the Company had 15,222,813 common shares outstanding, of which 6,758,666 common shares represent the public float of Medicure. Under TSXV policies, Medicure is entitled to purchase up to the maximum of 761,141 common shares, representing 5% of the common shares outstanding, over the 12 month period that the NCIB is in place.\nThe NCIB will commence on May 30, 2019 and will end on May 29, 2020, or on such earlier date as Medicure may complete its maximum purchases under the NCIB. The actual number of common shares which will be purchased, if any, and the timing of such purchases will be determined by the Company. All common shares purchased by the Company will be purchased on the open market through the facilities of TSXV by PI Financial Corp. (\"PI\") acting on behalf of the Company in accordance with the policies of the TSXV and will be surrendered by the Company to its transfer agent for cancellation. The prices that the Company will pay for common shares purchased will be the market price of the shares at the time of purchase.\nThe Company also announces that it has entered into an automatic share purchase plan with PI (the \"Plan\") in order to facilitate repurchases of its common shares un...