(Lakeshore, Ontario – December 27, 2019) – Reko International Group Inc. (TSX-V:REKO) announced today the approval of a normal course issuer bid for 316,933 of its outstanding common shares.
The notice provides that Reko may, during the 12-month period commencing December 31, 2019 and ending December 30, 2020, purchase on the TSX Venture Exchange up to a total of 316,933 of its common shares, being approximately 5% of the outstanding common shares. To date, there have been 101,400 shares purchased and cancelled under the current bid. 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 of common shares which may be purchased and the timing of any such purchases will be determined by Reko. All purchased shares will be cancelled. There are 6,338,650 common shares of Reko outstanding as of today.
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@example.com; or, by writing to the Company, Attention: Investor Relations, 469 Silver Creek Industrial Drive, Lakeshore, Ontario N8N 4W2.
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.
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