LAKESHORE, ON, Dec. 23, 2020 /CNW/
- Reko International Group Inc. (TSXV: REKO) announced today
the approval of a normal course issuer bid for 307,162 of its
outstanding common shares.
The notice provides that Reko may, during the 12-month period
commencing December 31, 2020 and
ending December 30, 2021, purchase on
the TSX Venture Exchange up to a total of 307,162 of its common
shares, being approximately 5% of the outstanding common shares.
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 6,143,250 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.