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Neupath Health Announces Approval Of Normal Course Issuer Bid

November 27, 2024 | Last Trade: C$0.19 0.00 0.00

TORONTO / Nov 27, 2024 / Business Wire / NeuPath Health Inc. (TSXV:NPTH) (NeuPath or the “Company”) announced today that the TSX Venture Exchange (the “Exchange”) has accepted a notice filed by NeuPath of its intention to make a Normal Course Issuer Bid (“NCIB”) to be transacted through the facilities of the Exchange.

Pursuant to the NCIB, the Company may, during the 12-month period commencing November 27, 2024 and ending November 26, 2025 (or on such date that the Company completes its purchases or provides notice of termination), purchase up to 2,820,044 common shares (“Shares”) in total, being approximately 5% of the total number of Shares outstanding as at November 27, 2024 (being 56,400,893 Shares). The price which the Company will pay for any such Shares will be the prevailing market price at the time of acquisition. Also, in accordance with the policies of the Exchange, the Company may not purchase more than 2% of its issued and outstanding Shares during any 30-day period. The actual number of Shares which may be purchased pursuant to the NCIB and the timing of any such purchases, outside of restricted periods, will be determined by management of the Company.

Purchases under the NCIB will be made from time to time by Haywood Securities Inc. (the “Broker”) on behalf of the Company through the facilities of the Exchange or through a Canadian alternative trading system. The Company has entered into a pre-defined plan with the Broker to allow for the purchase of Shares under the NCIB at times when the Company ordinarily would not be permitted to purchase Shares due to its internal trading black-out periods, insider trading rules or regulatory restrictions. The plan provides a set of standard instructions to the Broker to make purchases at its sole discretion under the NCIB in accordance with the terms set out in the such plan, the rules of the Exchange and applicable securities laws. Decisions regarding any future repurchases will depend on certain factors, such as market conditions, share price and instructions set forth in the plan. The Company may elect to suspend or discontinue share repurchases at any time in accordance with the plan and applicable laws.

To the knowledge of the Company, no director, senior officer or other insider of the Company, or any of their associates, or any associates or affiliates of the Company currently intend to sell Shares under the NCIB. All Share purchases will be made on the open market through the facilities of the Exchange and will be purchased for cancellation. The funding for any purchase pursuant to the NCIB will be financed out of the working capital of the Company.

The board of directors (the “Board”) believes the underlying value of the Company may not be reflected in the current market price of its Shares. As a result, depending upon future price movements and other factors, the Board believes that the purchase of Shares may represent an attractive investment to the Company and in the best interests of the Company. Furthermore, the purchases are expected to benefit all persons who continue to hold Shares by increasing their equity interest in the Company if the repurchased Shares are cancelled.

About NeuPath Health Inc.

NeuPath operates a network of healthcare clinics and related businesses focused on improved access to care and outcomes for patients by leveraging best-in-class treatments and delivering patient-centered multidisciplinary care. We operate a network of medical clinics in Ontario and Alberta that provide comprehensive assessments and rehabilitation services to clients with chronic pain, musculoskeletal/back injuries, sports related injuries and concussions. In addition, NeuPath provides workplace health services and independent medical assessments to employers and disability insurers through a national network of healthcare providers, as well as contract research services to pharmaceutical and biotechnology companies. NeuPath is focused on enabling each individual to live their best life. For additional information, please visit www.neupath.com.

Forward Looking Information

This news release contains forward-looking statements. All statements, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future. Forward-looking information in this press release includes statements with respect to the anticipated benefits of the NCIB and the number of Shares that may be purchased under the NCIB. These forward-looking statements reflect the current expectations or beliefs of the Company based on information currently available to the Company. Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, the Company. Factors that could cause actual results or events to differ materially from current expectations included in this news release include, among other things, adverse market conditions, risks associated with obtaining and maintaining the necessary governmental permits and licenses related to the business of the Company, increasing competition in the market and other risks generally inherent in the chronic pain, sports medicine, concussion and workplace health services markets. A comprehensive discussion of these and other risks and uncertainties can be found in the Company’s annual information form dated March 14, 2024 filed on SEDAR+ under the Company’s profile at www.sedarplus.ca.

Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Although the Company believes that the assumptions underlying the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to their inherent uncertainty.

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS THE RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

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