REKO INTERNATIONAL GROUP INC. TO BUY BACK UP TO 286,420 OF ITS COMMON SHARES

SUBSIDIARIES/DIVISIONS:

Canada:

• Concorde Precision Machining Inc.
• Reko Manufacturing Group Inc.

United States:

• Reko International Sales Inc.
• Reko International Holdings Inc.
• Concorde USA, LLC

WINDSOR, ON, Jan. 5, 2023 /CNW/ - Reko International Group Inc. (TSXV: REKO) announced today the approval of a normal course issuer bid for 286,420 of its outstanding common shares. 

The notice provides that Reko may, during the 12-month period commencing January 9, 2023 and ending January 8, 2024, purchase on the TSX Venture Exchange up to a total of 286,420 of its common shares, being approximately 5% of the outstanding common shares.  Matthew Larose of National Bank Financial will be the Member acting on behalf of Reko.  The price that Reko will pay for any such shares will be the market price at the time of acquisition.  The actual number of common shares which may be purchased and the timing of any such purchases will be determined by Reko.   All purchased shares will be cancelled. There are 5,728,413 common shares of Reko outstanding as of today.

A shareholder may receive a copy of Form 5G, Notice of Intention to Make a Normal Course Issuer Bid by contacting the Company via e-mail at [email protected]; or, by writing to the Company, Attention: Investor Relations, 469 Silver Creek Industrial Drive, Lakeshore, Ontario N8N 4W2.

Reko believes that its common shares have been trading in a price range, which does not reflect their value in relation to Reko's business and its future business prospects.  As a result, depending upon future price movements and other factors, Reko believes that its outstanding common shares represent an attractive investment and a desirable use of a portion of its available funds.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

About Reko International Group Inc.

Reko International Group Inc. (TSX-V:REKO) is a diversified, technology-driven manufacturing organization located in Southwestern Ontario, just minutes from the U.S. border. Areas of expertise include robotic factory automation solutions, the precision machining of large critical parts, and plastic injection and low compression acoustic tooling. Reko's family-oriented culture embraces past experience, fosters innovation, and always ensures the highest standard of quality. Reko believes in strengthening communities by advancing manufacturing.

SOURCE Reko International Group Inc.

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