- Relay Medical may purchase up to 12 million common shares on the open market, effective June 28th
- Relay’s NCIB is an indicator of the company’s financial health and management’s confidence in the company’s future
- National Bank has been appointed to make purchases under the NCIB program on behalf of Relay
- Relay recently announced the extension of the COVID-19 testing pilot at Toronto Pearson airport
- Several IoT technology companies are integrating Relay’s Cybeats platform for device and critical infrastructure defence
- Relay Medical Corp. (RELA) opened trading at C$0.225 per share
Relay Medical Corp (RELA) has initiated a normal course issuer bid (NCIB).
Under the terms of this normal course issuer bid, Relay may purchase up to 12 million common shares on the open market, effective June 28th, and potentially extending for a 12-month period.
“Relay is focused on the commercialization of Fionet and Cybeats product lines, and well-capitalized to execute on these critical business objectives. We also recognize that this is a pivotal inflection point for the company and an attractive investment,” said W. Clark Kent, President, Relay Medical Corp.
“Relay’s NCIB is a clear indicator to shareholders regarding our financial health and our confidence in the company and its near-term commercial goals.”
The actual number of shares purchased, the timing of purchases and share price will depend on market conditions. National Bank has been appointed to make purchases under the NCIB program on behalf of Relay.
Relay believes that share purchases are in the best interests of the company and its shareholders. Relay believes that its outstanding common shares represent an attractive investment.
In other news, Relay recently announced the extension of the COVID-19 testing pilot at Toronto Pearson airport. Over 36,000 tests have successfully been completed thus far.
Relay has also recently announced that several diverse IoT technology companies are now using the Cybeats platform for device and critical infrastructure defence. Cybeats also recently hosted an industry cybersecurity webinar with its co-founder and team of security advisors, which saw nearly 300 interested parties from diverse industries.
Relay Medical is a technology innovation company focused on the development of novel technologies in the diagnostics, AI data science and IoT security sectors.
Relay Medical Corp. (RELA) opened trading at C$0.225 per share.
