11:47 AM EDT, 09/30/2024 (MT Newswires) -- Hydreight Technologies ( HYDTF ) , a mobile clinical network and medical platform company, said Monday it plans to launch a normal course issuer bid (NCIB).

The NCIB will allow the company to purchase for cancellation up to 1,38-million of its shares or about 3.4% of its outstanding shares and about 10% of its public float.

The NCIB takes effect on Oct. 4 and runs for 12 months.

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

Hydreight ( HYDTF ) shares were last seen up $0.01 to $0.26 on the TSX Venture Exchange.

Price: 0.26, Change: +0.01, Percent Change: +4.00