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Medicure gets exchange approval for normal course issuer bid

Medicure Inc. secured an approval from the TSX Venture Exchange for a normal course issuer bid under which the company may repurchase up to a total of 761,141 common shares until May 29, 2020.

The maximum number of shares to be potentially repurchased under the bid represent about 5% of the company's issued and outstanding shares over the next 12 month. As of May 29, Medicure had 15,222,813 shares outstanding, with 6,758,666 shares representing the public float of the company.

Winnipeg, Manitoba-based Medicure, which develops and markets therapies for the cardiovascular market, noted that repurchasing its shares for cancellation represents an opportunity to enhance value for its shareholders.