VICTORIA, British Columbia, September 27, 2021 (GLOBE NEWSWIRE) – Vigil Health Solutions Inc. (“Vigil“or the”Society“) (TSX-VEN: VGL) announced today that the TSX Venture Exchange (the”To exchange“) has accepted a notice of intention to make a normal course issuer bid (the”Offer“). In accordance with the notice accepted by the Exchange, the Company may, during the period beginning September 30, 2021 and ending September 29, 2022, purchase for cancellation, through the facilities of the Exchange and other systems trading, at the market price of the Common Shares of the Company (“Ordinary actions) At the time of purchase, up to 900,000 common shares representing approximately 4.96% of the issued and outstanding common shares of the Company. In accordance with the policies of the Exchange, a purchase of Common Shares under the Offer may not, when combined with the total of all other purchases during the preceding 30 days, be through of the Stock Exchange or otherwise, exceed 2% of the Common Shares outstanding at that time.
The Company is undertaking the Offer because, in the opinion of its board of directors, the price of the Common Shares, from time to time, may not fully reflect the underlying value of its operations and its prospects for future growth. , and in such circumstances, the purchase of Common Shares may represent an appropriate and desirable use of Company funds.
During the period from September 30, 2020 to September 26, 2021, as part of the Company’s public tender offer which expires on September 29, 2021, the Company purchased for cancellation 59,500 ordinary shares at an average price of 0 , $ 34 per share for a total cost of $ 19,992.50.
The Company has retained the services of Canaccord Genuity Wealth Management to conduct the offer.
As part of the Offer, Vigil has entered into an automatic share purchase plan with its appointed broker (âPAES“). The RPAA is intended to allow the purchase of Common Shares under the Offer at times when the Company would not normally be permitted to purchase Common Shares due to regulatory restrictions and customary self-imposed blackout periods. . In accordance with the ASPP, prior to entering a blackout period, the Company may, but is not obligated to, request the Designated Broker to make purchases under the Offer in accordance with the terms of the ASPP. Purchases under the RASP will be made by the designated broker based on parameters prescribed by the Company in accordance with the policies of the Exchange, the RASP and applicable Canadian securities laws. The ASPP will be in effect for the duration of the offer.
About Vigil Health Solutions Inc.
Vigil offers a technology platform combining software and hardware to provide comprehensive solutions to the expanding senior housing market. Vigil has established a growing presence in North America and an international reputation for being at the cutting edge of systems design and integration. Vigil’s goal is to offer solutions for the entire continuum of care. The Vigil product line includes the innovative wireless Vitality Care System â¢ with discreet ‘mini pendants’, nurse call system, mobile falls / incontinence monitoring, resident registration and the award-winning Vigil Dementia System.
Certain statements contained in this press release that are not based on historical fact may constitute forward-looking statements or forward-looking information within the meaning of applicable securities laws (âforward-looking statementsâ). These forward-looking statements are not promises or guarantees of future performance, but are only predictions relating to future events, conditions or circumstances or our future results, performance, achievements or developments and are subject to risks, assumptions, uncertainties and other factors that could cause our actual results, performance, achievements or developments in our business or industry to differ materially from those expressed, anticipated or implied by such forward-looking statements.
Forward-looking statements include all financial indications, disclosure regarding possible events, conditions, circumstances or results of operations that are based on assumptions regarding future economic conditions, action plans and other future events. . We caution you not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. These forward-looking statements appear in several different places in this press release and may be identified by words such as “may”, “believes”, “plans”, “expects”, “intends”, ” believes â,â plans â,â anticipates â, or their negatives or other comparable words. Forward-looking statements include Vigil’s intention to purchase its common shares during the offering.
The risk factors and uncertainties that may affect our actual results, performance, achievements or developments are numerous and include, among others, our ability to develop our sales force and generate income, the length of the sales cycle, the managing the growth of the Company, the ability to recruit and retain staff, fluctuations in demand for current and future products, our ability to develop, manufacture, supply and market existing and new products that meet customer needs, exchange rate volatility, the ability to obtain financing, the ability to obtain product liability insurance, the continued engagement of our customers, increased competition, regulatory changes and reliance on third-party suppliers, the Company’s continued solvency and financial performance and the Company’s fiscal capacity to purchase under the Offer . These and other risk factors are discussed in the Risks and Uncertainties section of our âManagement review and analysisâ section of our Fiscal 2020 Annual Report. Many of these factors and uncertainties are beyond the control of the society. Accordingly, all forward-looking statements contained in this press release are qualified by this cautionary statement and there can be no assurance that the actual results, performance, achievements or developments anticipated by the Company will be achieved.
Forward-looking statements are based on current plans, estimates, projections, beliefs and opinions of management and, except as required by law, the Company undertakes no obligation to update forward-looking statements if related assumptions at these plans, estimates, projections, beliefs and opinions change.
For more information, please contact: Troy Griffiths, President and CEO
Phone. : (250) 383-6900
Fax: (250) 383-6999
E-mail: [email protected]
Vigil Health Solutions Inc.
2102-44464 Markham Street
Victoria, BC V8Z 7X8
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.