TORONTO, March 27,
2024 /CNW/ - CareRx Corporation ("CareRx" or
"the Company") (TSX: CRRX) today announced that, in
connection with its previously announced normal course issuer bid
("NCIB") to purchase up to 1,000,000 of its common shares
("Shares") during the twelve month period beginning September 7, 2023 and ending September 6, 2024, it has entered into an
automatic share purchase plan ("ASPP") with a designated broker.
The ASPP is intended to allow for the purchase of Shares under the
NCIB during pre-determined times when CareRx would ordinarily not
be permitted to purchase Shares due to regulatory restrictions and
customary blackout periods.
The Company has authorized the designated broker to make
purchases under the NCIB in accordance with the terms of the ASPP.
Such purchases will be determined by the designated broker at its
sole discretion based on certain parameters as to price and number
of Shares set by CareRx in accordance with the rules of the Toronto
Stock Exchange ("TSX"), applicable securities laws and the terms of
the ASPP. The ASPP constitutes an "automatic plan" for the purposes
of applicable securities laws and has been pre-cleared by the TSX.
The ASPP will commence immediately and terminate when the NCIB
expires, unless terminated earlier in accordance with the terms of
the ASPP.
Outside of pre-determined blackout periods, Shares may be
purchased under the NCIB based on management's discretion, in
compliance with TSX rules and applicable securities laws. All
purchases made under the ASPP will be included in computing the
number of Shares purchased under the NCIB.
About CareRx Corporation
CareRx is Canada's leading
provider of pharmacy services to seniors living communities. We
serve approximately 91,000 residents in over 1,500 seniors and
other congregate care communities (long-term care homes, retirement
homes, assisted living facilities, and group homes). We are a
national organization with a large network of pharmacy fulfillment
centres strategically located across the country. This allows us to
deliver medications in a timely and cost-effective manner and
quickly respond to routine changes in medication management. We use
best-in-class technology that automates the preparation and
verification of multi-dose compliance packaging of medication,
providing the highest levels of safety and adherence for
individuals with complex medication regimens. We take an active
role in working with our home operator partners to promote resident
health, staff education, and medication system quality and
efficiency.
Forward-Looking
Statements
This press release contains statements that may constitute
"forward-looking statements" within the meaning of applicable
Canadian securities legislation, including statements relating to
the NCIB. These forward-looking statements include, among others,
statements regarding the Company's business strategy, plans and
other expectations, beliefs, goals, objectives, information and
statements about possible future events. Forward-looking statements
generally can be identified by the use of forward-looking
terminology such as "may", "will", "expect", "intend", "estimate",
"anticipate" or similar expressions suggesting future outcomes or
events. Such forward-looking statements reflect management's
current beliefs and are based on information currently available to
management.
Forward-looking statements involve risks and uncertainties that
could cause actual results to differ materially from those
contemplated by such statements. Factors that could cause such
differences include the Company's general business risks, exposure
to and reliance on government regulation and funding, the Company's
liquidity and capital requirements, exposure to epidemic or
pandemic outbreak, reliance on contracts with key customers and
other risk factors described from time to time in the reports and
disclosure documents filed by the Company with Canadian securities
regulatory agencies and commissions. These and other factors should
be considered carefully and readers should not place undue reliance
on the Company's forward-looking statements. As a result of the
foregoing and other factors, no assurance can be given as to any
such future results, levels of activity or achievements and neither
the Company nor any other person assumes responsibility for the
accuracy and completeness of these forward-looking statements. The
factors underlying current expectations are dynamic and subject to
change.
SOURCE CareRX Corporation