HemCare Health Services Inc. repurchased 118,087,000 common shares as part of an ongoing buyback and retirement effort.

The purchase and retirement come after the cancellation of 71,140,000 shares in March. Because of these combined retirements, the outstanding share count is reduced to 96,225,211 from about 274 million.

The $120,100 spent on the share repurchase was funded by long-term 3% notes.

HemCare said it continues to seek further share retirements to position it for a potential uplisting.