WELL Health Technologies Corp T.WELL.DB

Globe & Mail

[retiredcf]

07:51 AM EDT, 06/01/2023 (MT Newswires) -- WELL Health Technologies Corp. (WELL.TO), a digital health company, overnight Wednesday announced that it has entered into an automatic share purchase plan with a broker in order to facilitate repurchases of the company's common shares under its previously announced normal course issuer bid.

Earlier, WELL announced that it had received approval from the Toronto Stock Exchange to purchase up to 5,884,589 common shares, representing approximately 2.5% of the 235,383,589 common shares issued and outstanding, by way of a NCIB on the TSX or through alternative trading systems or by such other means as may be permitted under applicable law. As a correction to the previous announcement, the NCIB will run from June 5, 2023 to June 4, 2024.

[SunsetGrill]

IMHO - this is by far not the most prudent use of cash at this point in the company's history (only 2.5% and lhe high likelyhood of needed to issue more shares in the future) I would consider this No. 99 on a list of 100 ways to use cash.

[Smokey1958]

Sunset, I think this is more a pattern than a certainty. As was mentioned in the full release, the prior NCIB was not acted upon. Should the other 98 possibilities be of a more sound and prudent move I'm sure those will be acted upon first.

[Nextlegup]

IMO the normal course issuer bid is a tool that offers the company a chance to stick it to those attempting to play with the share price...plain and simple. This company is in growth and acquisition mode, hence, you'd think, money is more than likely going towards snapping up more small shops as part of it's consolidation strategy than anything...As the price moves up, the opportunity