VANCOUVER, BC, April 28, 2021 /PRNewswire/ - WELL Health
Technologies Corp. (TSXV: WELL) (the "Company" or
"WELL"), a company focused on consolidating and modernizing
clinical and digital assets within the primary healthcare sector,
today announced that it has filed its Notice of an Intention to
Make a Normal Course Issuer Bid ("NCIB") with the Toronto
Stock Exchange ("TSX"). The NCIB remains subject to
approval by the TSX.
![TSX: WELL (CNW Group/WELL Health Technologies Corp.) TSX: WELL (CNW Group/WELL Health Technologies Corp.)](https://mma.prnewswire.com/media/1498644/WELL_Health_Technologies_Corp__WELL_Health_Announces_Normal_Cour.jpg)
WELL believes that share purchases pursuant to the NCIB will
contribute to the facilitation of an orderly market and be in the
best interests of the Company and its shareholders. In the
event that WELL believes that its common shares begin trading in a
price range that does not adequately reflect their underlying value
based on WELL's business prospects and strong financial position,
WELL may purchase shares pursuant to the NCIB. Depending upon
future price movements and other factors, WELL believes that its
outstanding common shares represent an attractive investment and a
desirable use of a portion of its corporate funds.
At the opening of the stock market on today's date, the Company
is expected to have 195,161,273 common shares issued and
outstanding. Under the NCIB, if approved by the TSX, the Company
may acquire up to an aggregate of 4,879,031 common shares over
the next 12-month period, representing approximately 2.5% of the
issued and outstanding common shares of the Company.
Purchases subject to this NCIB will be carried out pursuant to
open market transactions through the facilities of the TSX and any
other available markets and alternative trading systems in
Canada by a broker on behalf of
the Company in accordance with applicable regulatory
requirements. All common shares purchased by the Company
under the NCIB will be returned to treasury and cancelled.
To the knowledge of the Company, no director, senior officer or
other insider of the Company or any of their associates currently
intends to sell any common shares under this bid. However,
sales by such persons through the facilities of the TSX or any
other available market or alternative trading system in
Canada may occur if the personal
circumstances of any such person change or if any such person makes
a decision unrelated to these normal course purchases.
The benefits to any such person whose shares are purchased would be
the same as the benefits available to all other holders whose
shares are purchased. The commencement and termination dates for
this NCIB will be announced once the NCIB has been approved by the
TSX.
WELL HEALTH TECHNOLOGIES CORP.
Per: "Hamed Shahbazi"
Hamed Shahbazi
Chief Executive Officer, Chairman and Director
About WELL
WELL is an omni-channel digital health company whose overarching
objective is to empower doctors to provide the best and most
advanced care possible while leveraging the latest trends in
digital health. As such, WELL owns and operates 27 primary
healthcare clinics in both Canada
and the US, operates a multi-national digital Electronic Medical
Records (EMR) business serving thousands of healthcare clinics and
health systems of all sizes, operates a multi-national portfolio of
telehealth services which includes one of the largest telehealth
service providers in Canada. WELL is also a provider of
digital health, billing and cybersecurity related technology
solutions. WELL is an acquisitive company that follows a
disciplined and accretive capital allocation strategy. WELL
is publicly traded on the Toronto Stock Exchange under the symbol
"WELL". To access the Company's telehealth service,
visit: tiahealth.com, and for corporate information, visit:
www.well.company.
Forward-Looking Statements
This news release may contain "forward-looking statements"
within the meaning of applicable Canadian securities laws,
including, without limitation, the expectation that, if the NCIB is
approved by the TSX, the Company will conduct a Normal Course
Issuer Bid and purchase the maximum number of common shares
permissible thereunder as described in this news release.
Forward-looking statements are necessarily based upon a number of
estimates and assumptions that, while considered reasonable by
management, are inherently subject to significant business,
economic and competitive uncertainties, and contingencies.
The Company assumes that the NCIB will be approved by the
TSX; however, there can be no assurance that approval will be
obtained and the timing for such approval. These statements
generally can be identified by the use of forward-looking words
such as "may", "should", "will", "could", "intend", "estimate",
"plan", "anticipate", "expect", "believe" or "continue", or the
negative thereof or similar variations. Forward-looking statements
involve known and unknown risks, uncertainties and other factors
that may cause future results, performance or achievements to be
materially different from the estimated future results, performance
or achievements expressed or implied by those forward-looking
statements and the forward-looking statements are not guarantees of
future performance. WELL's statements expressed or implied by these
forward-looking statements are subject to a number of risks,
uncertainties, and conditions, many of which are outside of WELL 's
control, and undue reliance should not be placed on such
statements. Forward-looking statements are qualified in their
entirety by the inherent risks and uncertainties surrounding the
NCIB, including that: the TSX may not approve the NCIB; WELL's
assumptions in making forward-looking statements may prove to be
incorrect; adverse market conditions; risks inherent in the primary
healthcare sector in general; that future results may vary from
historical results; and that market competition may affect the
outcome of the business, results and financial condition of
WELL. Except as required by securities law, WELL does not
assume any obligation to update or revise any forward-looking
statements, whether as a result of new information, events or
otherwise.
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SOURCE WELL Health Technologies Corp.