Blockchain
VitalHub Corp. Announces Intention to Make a Normal Course Issuer Bid
Toronto, Ontario–(Newsfile Corp. – August 25, 2022) – VITALHUB CORP. (TSX: VHI) (the “Company” or “VitalHub”) announced today that the Toronto Stock Exchange (the “Exchange”) has accepted a notice filed by VitalHub of its intention to make a Normal Course Issuer Bid (the “Bid”) to be transacted through the facilities of the Exchange or through alternative Canadian trading systems.
The notice provides that the Company may, during the 12-month period commencing August 29, 2022 and ending August 28, 2023, purchase up to 1,000,000 Common Shares (“Shares”) in total, being approximately 2.30% of the total number of 43,400,258 Shares outstanding as at August 22, 2022. The price which the Company will pay for any such Shares will be the prevailing market price at the time of acquisition. The actual number of Shares which may be purchased pursuant to the Bid will be determined by management of the Company.
The average daily trading volume of the Shares on the Exchange (“ADTV”) for the most recently completed six calendar months is 31,465. Pursuant to Exchange policies, the maximum number of Shares that may be purchased in one day pursuant to the Bid will be the greater of 1,000 and 25% of ADTV, being 7,866 Shares, subject to certain prescribed exceptions.
The Company has also entered into a pre-defined automatic securities purchase plan with its broker to allow for the repurchase of Shares at times when the Company ordinarily would not be active in the market due to its own internal trading blackout periods, insider trading rules or otherwise. Outside of the restricted periods, the timing of purchases will be determined by management of the Company. Decisions regarding purchases will be based on market conditions, share price, best use of available cash, and other factors. The funding for any purchase pursuant to the Bid will be financed out of the working capital of the Company.
All Shares will be purchased for cancellation.
The Board of Directors believes the underlying value of the Company may not be reflected in the current market price of its Shares. As a result, depending upon future price movements and other factors, the Board believes that the Shares may represent an attractive investment to the Company. Furthermore, the purchases are expected to benefit all persons who continue to hold Shares by increasing their equity interest in the Company if the repurchased Shares are cancelled.
A copy of the Company’s notice filed with the Exchange may be obtained, by any shareholder without charge, by contacting the Company’s Chief Financial Officer.
ABOUT VITALHUB
Software for Health and Human Services providers designed to simplify the user experience and optimize outcomes.
VitalHub provides technology to Health and Human Services providers including; Hospitals, Regional Health Authorities, Mental Health, Long Term Care, Home Health, Community and Social Services. VitalHub solutions span the categories of Electronic Health Record (EHR), Case Management, Care Coordination, Patient Flow & Operational Visibility, and DOCit Mobile Apps.
The Company has a robust two-pronged growth strategy, targeting organic growth opportunities within its product suite, and pursuing an aggressive M&A plan. Currently VitalHub serves 275+ clients across Canada, USA, UK, Australia, Qatar, and Latvia. VitalHub is based in Toronto, Canada, with an offshore development hub in Sri Lanka. The Company is publicly traded on the Toronto Stock Exchange (TSX) under the symbol “VHI”.
CONTACT INFORMATION
VitalHub Corp.
Dan Matlow
Chief Executive Officer, Director
(416) 727-9061
[email protected]
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/134798
Blockchain
Alarum Announces Exciting Events Lineup and Welcomes Esteemed Advisor to NetNut’s Advisory Board
Blockchain
RevoluGROUP Canada Inc. Announces White Label Partnership with MONECO France
Blockchain
Australian Fintech Stables Launches International Remittances Between Australia and The Philippines
Pictured Left to Right: Erez Rachamim, Bernardo Bilotta and Daniel Li.
-
Blockchain Press Releases6 days ago
Bitcoin Halving Frenzy: Join Bybit’s Miner’s Point Plaza for a Shot at $1 Million and Witness History!
-
Blockchain6 days ago
New to The Street Announces Episode 564, Five Corporate Interviews, Airing on The Fox Business Network, Monday, March 25, 2024, at 10:30 PM PT
-
Blockchain Press Releases6 days ago
Bitget Unveils Proof of Reserves (POR) in March 2024: BTC & ETH Assets Surge by 20%
-
Blockchain6 days ago
Moondance Labs Announces $6 Million Funding to Boost Development of Tanssi Protocol
-
Blockchain Press Releases3 days ago
Bitget Wallet Partners with Over 40 Projects Including Avalanche, Taiko to Launch the BWB Ecosystem Partner Program
-
Blockchain7 days ago
Brett King, Henri Arslanian, Dirk Ohlmeier and Mohamed Bardastani: Top Keynote Lineup of Doing Digital Forum 2024
-
Blockchain Press Releases3 days ago
Trade Volatility Smartly: Bybit Introduces Smart Leverage, Offering Users Unprecedented Control with No Liquidation
-
Blockchain Press Releases6 days ago
Fostering Trust in Crypto: Bybit CEO Advocates Integrity & Collaboration at DACOM Singapore