07:28 AM EDT, 09/30/2024 (MT Newswires) -- Hydreight Technologies ( HYDTF ) , a mobile clinical network and medical platform company, said Monday that it plans to launch a normal course issuer bid (NCIB).

The NCIB will allow the company to purchase for cancellation up to 1,378,633 of its issued and outstanding shares or about 3.42% of its outstanding common shares and about 10.0% of its public float.

The NCIB will commence Oct. 4 and terminate on Oct. 3, 2025, or earlier.

The company said purchasing its common shares may contribute to the facilitation of an orderly market and is in the best interests of its shareholders.

Hydreight's ( HYDTF ) share price fell 3.9% last Friday to $0.25 on the TSXV.