Goodbody Health Announces Normal Course Issuer Bid and Restricted Share Unit Plan

VANCOUVER, BC / ACCESSWIRE / March 4, 2022 / Goodbody Health Inc. (CSE:GDBY), (OTCQB:GDBYF) (“Goodbody Health” or the “Company“) is pleased to announce: (i) its intention to initiate a normal course issuer bid (“NCIB“) through the facilities of the Canadian Securities Exchange; and (ii) the adoption of a restricted share unit plan (the “RSU Plan“).

NCIB

Under the NCIB, the Company intends to acquire up to approximately 18,248,107 common shares in the capital of the Company (the “Shares“), representing 5% of its issued and outstanding common shares. The NCIB will commence on March 11, 2022, and end no later than March 10, 2023, unless terminated earlier by the Company.

NCIB does not obligate the Company to purchase any Shares. The Company intends to appoint Canaccord Genuity Corp. to conduct the NCIB in Canada. The actual number of Shares purchased, timing of purchases and purchase price will depend upon the prevailing market conditions, subject to applicable securities law requirements. All Shares acquired by the Company pursuant to the NCIB will be returned to treasury and cancelled.

The Company is commencing the NCIB because it believes that the current market price of its Shares may not fully reflect the underlying value of the Company’s business and future prospects.

RSU Plan

In order to further align the interests of the Company’s senior executives, key employees, directors, and consultants to those of the shareholders of the Company, the board of directors (the “Board“) has approved the implementation of the RSU Plan. Pursuant to the RSU Plan, the Board may grant restricted share units (“RSUs“) to eligible persons, with vesting provisions also to be determined by the Board. Pursuant to the RSU Plan, the maximum number of RSUs that may be granted is 10% of the Company’s issued and outstanding common shares as of the time of grant.

On behalf of the Board of Directors,

Neither the Canadian Securities Exchange nor its Market Regulator (as defined in the policies of the Canadian Securities Exchange) accept responsibility for the adequacy or accuracy of this release. This news release contains certain “forward-looking information” within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only the Company’s beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of Goodbody Health’s control. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes” “plan is” or variations of such words and phrases or may contain statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “will continue”, “will occur”, “will be achieved” or “shortly”. The forward-looking information and forward-looking statements contained herein include, the timing of the NCIB, the amount of Shares purchased under the NCIB, the business and strategic plans of the Company, and RSU grants. Although Goodbody Health believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements.

Goodbody Health does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws.

SOURCE: Goodbody Health Inc.

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