LAKESHORE, ON, Jan. 5, 2024 /CNW/ – Reko International Group Inc. (TSXV: REKO) announced today the approval of a normal course issuer bid for 278,170 of its outstanding common shares.
The notice provides that Reko may, during the 12-month period commencing January 9, 2024 and ending January 8, 2025, purchase on the TSX Venture Exchange up to a total of 278,170 of its common shares, being approximately 5% of the outstanding common shares.
Reko believes that its common shares have been trading in a price range which does not reflect their value in relation to Reko’s business and its future business prospects. As a result, depending upon future price movements and other factors, Reko believes that its outstanding common shares represent an attractive investment and a desirable use of a portion of its available funds.
Matthew Larose of National Bank Financial will be the Member acting on behalf of Reko. The price that Reko will pay for any such shares will be the market price at the time of acquisition. The actual number and timing of shares purchased will be determined by Reko in accordance with applicable regulatory requirements. All purchased shares will be cancelled. There are 5,563,413 common shares outstanding as of the date of this press release.
A shareholder may receive a copy of Form 5G, Notice of Intention to Make a Normal Course Issuer Bid by contacting the Company via e-mail at [email protected]; or, by writing to the Company, Attention: Investor Relations, 469 Silver Creek Industrial Drive, Lakeshore, Ontario N8N 4W2.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Reko International Group Inc. (TSXV: REKO) is a diversified, technology-driven manufacturing company located in Southwestern Ontario, just minutes from the U.S. border. With expertise in robotic automation equipment and precision machining services, Reko is a “go-to” supplier for companies in the automotive, aerospace, rail, power generation and capital equipment industries. Reko strives to be a pillar and protector of sustainable North American manufacturing and production. For more information, contact Kim Marks, Chief Financial Officer at (519) 727-3287.
SOURCE Reko International Group Inc.
Featured image: DepositPhotos © fireflyphoto
