SECURITIES AND EXCHANGE
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT
For the month of June 2020
Commission File Number: 001-31995
(Translation of registrant's name into English)
2-1250 Waverley Street
Winnipeg, MB Canada R3T 6C6
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file
annual reports under cover of Form 20-F or Form 40-F.
Form 20-F x Form 40-F
Indicate by check mark if the registrant is submitting the Form 6-K
in paper as permitted by Regulation S-T Rule 101(b)(1):
Indicate by check mark if the registrant is submitting the Form 6-K
in paper as permitted by Regulation S-T Rule 101(b)(7):
Indicate by check mark whether the registrant by furnishing the
information contained in this Form is also thereby furnishing the
information to the Commission pursuant to Rule 12g3-2(b) under the
Securities Exchange Act of 1934.
Yes o No x
If “Yes” is marked, indicate below the file number assigned to the
registrant in connection with Rule 12g3-2(b): 8a72____.
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on
its behalf by the undersigned, thereunto duly authorized.
|Date: June 29, 2020
||/s/ Dr. Albert D.
||Dr. Albert D. Friesen
Medicure Announces Normal Course Issuer Bid
WINNIPEG, MB, June 29, 2020 /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
Under the terms of the NCIB, Medicure may acquire up to an
aggregate of 533,116 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
As of June 29, 2020, the Company
had 10,662,313 common shares outstanding, of which
4,655,353 common shares represent the public float of
Medicure. Under TSXV policies, Medicure is entitled to purchase up
to the maximum of 533,116 common shares,
representing 5% of the common shares outstanding, over the 12-month
period that the NCIB is in place.
The NCIB will commence on June 30, 2020 and will end on June 29,
2021, 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.
The 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 under the NCIB. Under
the Plan, PI may purchase common shares at times when the Company
would ordinarily not be permitted to do so, due to regulatory
restrictions or self-imposed blackout periods.
Purchases under the Plan will be made by PI based upon parameters
prescribed by the TSXV, applicable Canadian securities laws and
terms of the Plan.
On December 20, 2019, the Company completed a Substantial Issuer
Bid pursuant to which the Company purchased 4,000,000 of its common
shares for cancellation at a set purchase price of $6.50 per common
share for a total purchase price of $26.0 million in cash.
Under the Company's previous NCIB, which expired on May 29, 2020,
the Company purchased and cancelled 563,000 of its common shares
between May 30, 2019 and May 29, 2020 for a total cost to the
Company of $2.2 million.
About Medicure Inc.
Medicure is a pharmaceutical company
focused on the development and commercialization of therapies for
the U.S. cardiovascular market. The present focus of the Company is
the marketing and distribution of
AGGRASTAT® (tirofiban hydrochloride) injection,
ZYPITAMAGTM (pitavastatin) tablets and the ReDS™ PRO
device in the United States, where they are sold through the
Company's U.S. subsidiary, Medicure Pharma Inc. For more
information on Medicure please visit www.medicure.com.
To be added to Medicure's e-mail list, please
Neither the 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
Forward Looking Information: Statements contained in this
press release that are not statements of historical fact,
including, without limitation, statements containing the words
"believes", "may", "plans", "will", "estimates", "continues",
"anticipates", "intends", "expects" and similar expressions, may
constitute "forward-looking information" within the meaning of
applicable Canadian and U.S. federal securities laws (such
forward-looking information and forward-looking statements are
hereinafter collectively referred to as "forward-looking
statements"). Forward-looking statements, include estimates,
analysis and opinions of management of the Company made in light of
its experience and its perception of trends, current conditions and
expected developments, as well as other factors which the Company
believes to be relevant and reasonable in the circumstances.
Inherent in forward-looking statements are known and unknown risks,
uncertainties and other factors beyond the Company's ability to
predict or control that may cause the actual results, events or
developments to be materially different from any future results,
events or developments expressed or implied by such forward-looking
statements, and as such, readers are cautioned not to place undue
reliance on forward-looking statements. Such risk factors include,
among others, the Company's future product revenues, expected
future growth in revenues, stage of development, additional capital
requirements, risks associated with the completion and timing of
clinical trials and obtaining regulatory approval to market the
Company's products, the ability to protect its intellectual
property, dependence upon collaborative partners, changes in
government regulation or regulatory approval processes, and rapid
technological change in the industry. Such statements are based on
a number of assumptions which may prove to be incorrect, including,
but not limited to, assumptions about: general business and
economic conditions; the impact of changes in Canadian-US dollar
and other foreign exchange rates on the Company's revenues, costs
and results; the timing of the receipt of regulatory and
governmental approvals for the Company's research and development
projects; the availability of financing for the Company's
commercial operations and/or research and development projects, or
the availability of financing on reasonable terms; results of
current and future clinical trials; the uncertainties associated
with the acceptance and demand for new products and market
competition. The foregoing list of important factors and
assumptions is not exhaustive. The Company undertakes no obligation
to update publicly or otherwise revise any forward-looking
statements or the foregoing list of factors, other than as may be
required by applicable legislation. Additional discussion regarding
the risks and uncertainties relating to the Company and its
business can be found in the Company's other filings with the
applicable Canadian securities regulatory authorities or the US
Securities and Exchange Commission, and in the "Risk Factors"
section of its Form 20F for the year ended December 31,
SOURCE Medicure Inc.
View original content:
For further information: James Kinley, Chief Financial
Officer, Tel. 888-435-2220, Fax 204-488-9823, E-mail:
CO: Medicure Inc.
CNW 17:30e 29-JUN-20
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