LAKESHORE, ON, Dec. 27, 2019 /CNW/
- 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 irelations@rekointl.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.
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.
About Reko International Group Inc.
Reko International Group Inc. (TSX-V:REKO) is a diversified,
technology-driven manufacturing organization located in
Southwestern Ontario, just minutes
from the U.S. border. Areas of expertise include robotic factory
automation solutions, the precision machining of large critical
parts, and plastic injection and low compression acoustic tooling.
Reko's family-oriented culture embraces past experience, fosters
innovation, and always ensures the highest standard of quality.
Reko believes in strengthening communities by advancing
manufacturing.
SOURCE Reko International Group Inc.