Mr. David Watson reports
MEDICAL FACILITIES CORPORATION ANNOUNCES EXEMPTIVE RELIEF IN SUBSTANTIAL ISSUER BID
In connection with Medical Facilities Corp.'s continuing substantial issuer bid, the Ontario Securities Commission has granted an order (the relief order) permitting Medical Facilities to extend the offer, if it determines to do so, without first taking up any common shares of the corporation previously deposited. For technical reasons the offer could not be extended without the relief order.
At this time, Medical Facilities has not yet determined if it will extend the offer, and the expiration of the offer remains 11:59 p.m. Eastern Time on Feb. 24, 2025. In the event the offer is extended, the corporation will provide a further news release disclosing the details of such extension.
Details of the offer, including instructions for tendering common shares, are included in the offer to purchase and issuer bid circular, letter of transmittal and the notice of guaranteed delivery filed by the corporation in connection with the offer. Provided that the notice of guaranteed delivery is received prior to the expiry time, the corporation will accept the associated share certificates and letter of transmittal that are received on or before the end of the second trading day on the Toronto Stock Exchange after the expiry time.
The offer documents are available on SEDAR+, as well as on the corporation's website. Shareholders should carefully read the offer documents prior to making a decision with respect to the offer.
About Medical Facilities Corp.
Medical Facilities, in partnership with physicians, owns a portfolio of highly rated, high-quality surgical facilities in the United States. Medical Facilities' ownership includes controlling interests in three specialty surgical hospitals located in Arkansas, Oklahoma and South Dakota and an ambulatory surgery centre (ASC) located in California. The specialty surgical hospitals perform scheduled surgical, imaging, diagnostic and other procedures, including primary and urgent care, and derive their revenue from the fees charged for the use of their facilities. The ASC specializes in outpatient surgical procedures, with patient stays of less than 24 hours.
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