Extendicare Inc. (TSX:EXE) announces a share repurchase program. Under the program, the company will repurchase up to 8,800,000 of its common shares, representing 9.92% of issued and outstanding share capital and 10% of the public float. The price under the bid will be the prevailing market price at the time of purchase. Repurchases will be made through the facilities of the TSX and on alternative Canadian trading systems, in accordance with the TSX rules. The shares purchased under the program by the company will be cancelled. Subject to the TSX’s block purchase exception, on any trading day, purchases under the bid will not exceed 70,940 common shares. The purpose of the program is to make appropriate use of the company's available funds when the market price of the common shares does not fully reflect their underlying value and to increase the proportionate equity interest. The program will expire on January 12, 2018. As of January 6, 2017, the company has 88,684,485 common shares issued and outstanding.