Biosyent Inc logo

RX - Biosyent Inc News Story

C$7.6 0.0  0.0%

Last Trade - 14/04/21

Sector
Healthcare
Size
Small Cap
Market Cap £57.1m
Enterprise Value £43.2m
Revenue £13.0m
Position in Universe 874th / 2712

BioSyent Announces Renewal of Normal Course Issuer Bid

Fri 11th December, 2020 1:00pm
For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20201211:nGNX8XKz56&default-theme=true


MISSISSAUGA, Ontario, Dec. 11, 2020 (GLOBE NEWSWIRE) -- BioSyent Inc.
(“BioSyent”, “the Company”, TSX Venture: RX) is pleased to announce
that the TSX Venture Exchange (“TSX-V”) has accepted the Company’s
Notice of Intention to Make a Normal Course Issuer Bid (the “NCIB”).
Pursuant to the NCIB, BioSyent may purchase up to 950,000 of its common shares
(“Shares”) over a 12-month period, representing approximately 7.42% of the
Shares outstanding as of December 11, 2020.  

The NCIB will commence on December 17, 2020 and terminate on December 16,
2021, or such earlier date on which purchases under the NCIB have been
completed. Purchases of Shares under the NCIB will be made through the
facilities of the TSX-V or alternative Canadian trading systems at the market
price of the Shares at the time of acquisition. The number of Shares the
Company is permitted to purchase during any 30-day period is limited to
256,172 Shares, representing 2% of the total outstanding Shares.

BioSyent has entered into an automatic share purchase plan with a broker,
Raymond James Ltd., in connection with the NCIB to allow for the purchase of
Shares during certain pre-determined blackout periods. Outside of these
pre-determined blackout periods, Shares will be purchased at the discretion of
senior management of BioSyent.

BioSyent believes that the Shares may from time to time trade in a price range
that does not adequately reflect the value of the Shares in relation to its
activities and future prospects. As a result, BioSyent believes that the
purchase of Shares, from time to time, would be an appropriate use of
corporate funds in light of potential benefits to remaining shareholders.

BioSyent has purchased a total of 1,723,275 Shares under NCIBs between
December 10, 2018 and December 10, 2020.

About BioSyent Inc.

Listed on the TSX Venture Exchange under the trading symbol “RX”, BioSyent
is a profitable growth-oriented specialty pharmaceutical company focused on
in-licensing or acquiring innovative pharmaceutical and other healthcare
products that have been successfully developed, are safe and effective, and
have a proven track record of improving the lives of patients. BioSyent
supports the healthcare professionals that treat these patients by marketing
its products through its community, specialty/hospital and international
business units.

As of the time of this press release, the Company has 12,808,600 common shares
outstanding.

For a direct market quote for the TSX Venture Exchange and other Company
financial information please visit www.tmxmoney.com.

Forward-Looking Statements

All statements in this press release that do not directly and exclusively
relate to historical facts constitute forward-looking statements as of the
date of this press release. Forward-looking statements generally can be
identified by the use of forward-looking terminology such as "may", "will",
"expect", "intend", "anticipate", "seek", "plan", "believe" or "continue" or
the negatives of these terms or variations of them or similar terminology.
Such statements relate to, among other things, the Company’s intention to
purchase Shares pursuant to the NCIB, the Company’s belief that the Shares
may from time to time be undervalued and that purchases of Shares under the
NCIB will provide benefits to shareholders. Although the Company believes that
the expectations and assumptions reflected in these forward-looking statements
are reasonable, undue reliance should not be placed on these forward-looking
statements, which are not guarantees and are subject to certain risks,
uncertainties and assumptions, which may cause actual performance and
financial results to differ materially from such forward-looking statements.
The forward-looking statements included in this press release are made only at
the date of this press release and, except as required by applicable
securities laws, the Company does not undertake to publicly update such
forward-looking statements to reflect new information, future events or
otherwise.

For further information please contact:

Mr. René C. Goehrum
President and CEO
BioSyent Inc.
Tel: (905) 206-0013
E-Mail: investors@biosyent.com
Web: www.biosyent.com


(https://www.globenewswire.com/NewsRoom/AttachmentNg/3dded277-7953-4418-be63-7d7a3067811d)



GlobeNewswire, Inc. 2020
© Stockopedia 2021, Refinitiv, Share Data Services.
This site cannot substitute for professional investment advice or independent factual verification. To use it, you must accept our Terms of Use, Privacy and Disclaimer policies.