Toronto, Ontario--(Newsfile Corp. - August 25, 2022) - VITALHUB CORP. (TSX: VHI) (the "Company" or "VitalHub") announced today that the Toronto Stock Exchange (the "Exchange") has accepted a notice filed by VitalHub of its intention to make a Normal Course Issuer Bid (the "Bid") to be transacted through the facilities of the Exchange or through alternative Canadian trading systems.
The notice provides that the Company may, during the 12-month period commencing August 29, 2022 and ending August 28, 2023, purchase up to 1,000,000 Common Shares ("Shares") in total, being approximately 2.30% of the total number of 43,400,258 Shares outstanding as at August 22, 2022. The price which the Company will pay for any such Shares will be the prevailing market price at the time of acquisition. The actual number of Shares which may be purchased pursuant to the Bid will be determined by management of the Company.
The average daily trading volume of the Shares on the Exchange ("ADTV") for the most recently completed six calendar months is 31,465. Pursuant to Exchange policies, the maximum number of Shares that may be purchased in one day pursuant to the Bid will be the greater of 1,000 and 25% of ADTV, being 7,866 Shares, subject to certain prescribed exceptions.
The Company has also entered into a pre-defined automatic securities purchase plan with its broker to allow for the repurchase of Shares at times when the Company ordinarily would not be active in the market due to its own...
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