TORONTO, Nov. 29, 2023 /CNW/ - Medical Facilities Corporation ("Medical Facilities" or the "Corporation") (TSX: DR), announced today that the Toronto Stock Exchange has approved its notice of intention to make a normal course issuer bid ("NCIB") for up to 2,481,256 of its 24,920,462 outstanding common shares ("Common Shares"), representing 10% of the Corporation's public float of 24,812,562 Common Shares as of November 21, 2023. The Corporation may purchase the Common Shares at prevailing market prices during the period from December 1, 2023, to November 30, 2024, through the facilities of the Toronto Stock Exchange, other designated exchanges and/or alternative Canadian trading systems in accordance with applicable regulatory requirements. Purchases will be made at market prices in accordance with the rules and policies of the Toronto Stock Exchange. Subject to the Toronto Stock Exchange's block purchase exceptions, daily purchases will be limited to 6,079 Common Shares on any trading day, representing 25% of the average daily trading volume of 24,316 Common Shares for the past six months. All securities purchased by Medical Facilities under the normal course issuer bid will be cancelled. As of November 21, 2023, Medical Facilities repurchased 1,267,900 of its Common Shares for a volume-weighted average price of $8.23 under its prior normal course issuer bid for up to 2,615,186 Common Shares, which commenced on December 1, 2022, and expires on November 30, 2023.