TORONTO, Nov. 29, 2022 /CNW/ - Medical Facilities Corporation ("Medical Facilities" or the "Company") (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 2,615,186 of its 26,312,062 outstanding common shares ("Common Shares"), representing 10% of the Company's public float of 26,151,862 Common Shares as of November 18, 2022. The Company may purchase the Common Shares at prevailing market prices during the period from December 1, 2022 to November 30, 2023 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 15,768 Common Shares on any trading day, representing 25% of the average daily trading volume of 63,073 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 24, 2022, the Company repurchased 1,837,800 of its Common Shares for a volume-weighted average price of $8.97 under its prior normal course issuer bid for up to 3,101,774 Common Shares, which commenced on December 1, 2021 and expires on November 30, 2022.