SOURCE: Gendis Inc.

Gendis Inc.

January 17, 2017 14:49 ET

Notice of Intention to Make a Normal Course Issuer Bid to Purchase Common Shares of Gendis Inc.

WINNIPEG, MB--(Marketwired - January 17, 2017) - Gendis Inc. (TSX: GDS) intends to purchase a maximum of 500,000 of its Common shares, being 3.9% percent of the 12,800,486 issued and outstanding Common shares as at January 13, 2017. Purchases may commence on January 19, 2017 and will terminate no later than January 18, 2018.

Purchases of Common shares may be made through the facilities of the TSX, registered exchanges and alternative Canadian trading systems. The purchase and payment for the Common shares purchased will be made by Gendis Inc. in accordance with the requirements of The Toronto Stock Exchange and the price which Gendis Inc. will pay for any such Common shares will be the market price of such Common shares at the time of acquisition. Daily purchases will be limited to 1,000 Common shares, other than block purchase exceptions. Common shares purchased pursuant to this Notice will be cancelled.

Gendis Inc. will make no purchases of Common shares other than open market purchases.

From time to time, the market price of the Common shares of Gendis Inc. may not adequately reflect the value of Gendis' business and its future business prospects.

No director or senior officer of Gendis Inc. intends to sell Common shares of Gendis Inc. during the period of this Notice. To the knowledge of the Company, no associate of a director or senior officer of Gendis Inc., and no person acting jointly or in concert with Gendis Inc. and no person holding ten (10%) percent or more of any class of equity securities of Gendis Inc. intends to sell Common shares of Gendis Inc. during the period of this Notice.

During the Normal Course Issuer Bid that commenced July 16, 2015 and expired on July 15, 2016, Gendis Inc. purchased 151,500 Common shares at a weighted average price of $3.47 per Common share.

Contact Information

  • For further information, please contact:
    Mr. James E. Cohen
    President & Chief Executive Officer
    Gendis Inc.
    (204) 474-5200