CareRx Corporation (TSX:CRRX) told investors that its Board of Directors has authorized a normal course issuer bid (NCIB) to purchase for cancellation up to 1,000,000 of its common shares, representing approximately 1.73% of its issued and outstanding shares, subject to the approval of the Toronto Stock Exchange.
The company said it believes its shares represent an attractive investment opportunity, and that purchases under the NCIB will enhance the value of the shares held by the remaining shareholders. It expects NCIB to begin on or around September 7, 2023, and end a year later.