23:48:52 EDT Fri 17 May 2024
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Reko may buy back up to 278,170 shares under NCIB

2024-01-05 15:18 ET - News Release

Mr. Kim Marks reports

REKO INTERNATIONAL GROUP INC. TO BUY BACK UP TO 278,170 OF ITS COMMON SHARES

Reko International Group Inc. has received approval for a normal course issuer bid for 278,170 of its outstanding common shares.

The notice provides that Reko may, during the 12-month period commencing Jan. 9, 2024, and ending Jan. 8, 2025, purchase on the TSX Venture Exchange up to a total of 278,170 of its common shares, being approximately 5 per cent of the outstanding common shares.

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.

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 and timing of shares purchased will be determined by Reko in accordance with applicable regulatory requirements. All purchased shares will be cancelled. There are 5,563,413 common shares outstanding as of the date of this press release.

A shareholder may receive a copy of Form 5G (Notice of Intention to Make a Normal Course Issuer Bid) by contacting the company through e-mail.

About Reko International Group Inc.

Reko International Group is a diversified, technology-driven manufacturing company located in southwestern Ontario, just minutes from the United States border. With expertise in robotic automation equipment and precision machining services, Reko is a go-to supplier for companies in the automotive, aerospace, rail, power generation and capital equipment industries.

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