Can-60 Income Corp. Announces Normal Course Issuer Bid For Shares
November 22 2012 - 12:00PM
Marketwired
Can-60 Income Corp. (the "Corporation") (TSX:CSY) announced today
acceptance by the Toronto Stock Exchange (the "TSX") of the
Corporation's Notice of Intention to make a Normal Course Issuer
Bid (the "NCIB").
Pursuant to the NCIB, the Fund proposes to purchase through the
facilities of the TSX, from time to time, if it is considered
advisable, up to 2,128,415 non-voting equity shares ("Shares") of
the Corporation, representing approximately 10% of the public float
which is the same number as the Corporation's issued and
outstanding Shares, being 21,284,151 Shares as of the close of
November 14, 2012. The Corporation will not purchase in any given
30-day period, in the aggregate, more than 425,683 Shares, being 2%
of the issued and outstanding Shares as of the close of November
14, 2012. Purchases of Shares under the NCIB may commence on
November 26, 2012. First Asset Investment Management Inc., the
manager of the Corporation, believes that such purchases are in the
best interests of the Corporation and are a desirable use of the
Corporation's funds. All purchases will be made through the
facilities of the TSX in accordance with its rules and policies.
All Shares purchased by the Corporation pursuant to the NCIB will
be cancelled. The NCIB will expire on November 25, 2013.
On November 23, 2011, the Fund announced that it was making a
Normal Course Issuer Bid, which commenced November 25, 2011, to
purchase up to 2,562,470 Shares through the facilities of the TSX.
Under the bid, which will expire on November 24, 2012, an aggregate
of 169,200 Shares were repurchased at a weighted average price of
$8.01 per Share excluding commissions.
Contacts: First Asset Rob MacNiven Investor Relations
416-642-1289 or 1-877-642-1289 www.firstasset.com
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