MARKHAM, Ontario, June 26, 2025 (GLOBE NEWSWIRE) -- Extendicare Inc. (“Extendicare” or the “Company”) (TSX: EXE) announced today that the Toronto Stock Exchange (the “TSX”) has approved the renewal of Extendicare’s normal course issuer bid (“NCIB”). Under the terms of the NCIB, the Company may purchase for cancellation up to 7,281,193 of its common shares (the “Common Shares”), representing 10% of its public float of issued and outstanding Common Shares. As at June 20, 2025, there were 83,817,909 Common Sha ...

Core Points - Extendicare Inc. has completed the acquisition of nine "Class C" long-term care homes and a parcel of vacant land from Revera Inc. effective June 1, 2025 [1] - The total consideration for the transaction was approximately $60.3 million, consisting of $40.2 million in cash and the assumption of $20.1 million in liabilities [2] - The acquired homes include a total of 822 long-term care beds and 574 retirement beds across various locations in Ontario and Manitoba [3] Financial Details - The purchase price was funded from cash on hand, excluding transaction costs [2] - The liabilities assumed include government funding reimbursement obligations and committed capital maintenance project obligations [2] Operational Insights - Carlingview Manor is undergoing redevelopment into a new 320-bed long-term care home, owned by a joint venture between Extendicare and Axium [4] - Extendicare operates a network of 99 long-term care homes, providing approximately 11.2 million hours of home health care services annually [5] - The company employs around 26,500 qualified team members dedicated to delivering high-quality care [5]

Core Points - Extendicare Inc. held its annual and special meeting of shareholders on May 27, 2025, where various matters were voted on [1] - A total of 47,282,730 common shares were represented at the meeting, accounting for 56.41% of the outstanding shares [2] Group 1: Election of Directors - Nine nominees were elected as directors to serve until the next annual meeting [3] - The voting results showed high approval rates for the nominees, with votes for ranging from 94.08% to 99.74% [4] Group 2: Appointment of Auditors - KPMG LLP was appointed as the auditors of the Company until the next annual meeting, with 87.18% of votes in favor [5][6] Group 3: Long Term Incentive Plan - The resolution to approve unallocated entitlements under Extendicare's Long Term Incentive Plan was passed with 97.04% approval [7][8] Group 4: Executive Compensation - A non-binding advisory resolution regarding the Company's approach to executive compensation was approved, receiving 94.48% of votes in favor [9][10][11] Company Overview - Extendicare is a leading provider of care and services for seniors in Canada, operating 122 long-term care homes and delivering approximately 11.2 million hours of home health care services annually [12]