EXFO Inc. (TSX:EXF) announces a share repurchase program. Under the normal course issuer bid, the company will repurchase up to 600,000 subordinate voting shares, representing 2.51% of its outstanding subordinate voting shares. All the shares repurchased will be cancelled. The company may use cash, short-term investments and future cash flows from operations to finance the repurchase of shares. The bid will expire on January 13, 2021, or on an earlier date if EXFO repurchases the maximum number of shares permitted. As of December 31, 2019, the company had 23,905,787 subordinate voting shares outstanding.