LAKESHORE, ON, Dec. 12, 2016 /CNW/
- Reko International Group Inc. (TSX-V: REK) announced today the
approval of a normal course issuer bid for 321,996 of its
outstanding common shares.
The notice provides that Reko may, during the 12-month period
commencing December 15, 2016 and
ending December 14, 2017, purchase on
the TSX Venture Exchange up to a total of 321,996 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 6,439,920
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, via SEDAR at www.sedar.com; 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. is a publicly traded, certified
woman owned manufacturing company located in Southwestern,
Ontario. Established in 1976, Reko
International Group Inc. is a diverse value-added designer and
manufacturer of customized machining and engineering solutions to
OEMs and their Tier I suppliers in dynamic sectors as rail
equipment, oil and gas distribution, mining, military, capital
equipment, and automotive.
SOURCE Reko International Group Inc.
