MCI Onehealth Implements Automatic Share Purchase Plan
TORONTO, July 08, 2021 (GLOBE NEWSWIRE) -- 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.
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.
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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.