TORONTO, ON--(Marketwired - April 17, 2017) - NexC Partners Corp. (the "Company") (TSX: NXC) has received approval for a normal course issuer bid to purchase up to 195,027 Class A Shares (the "Shares") of the Company, representing approximately 10% of the public float of 1,950,268 Shares as of April 11, 2017. The Company may purchase up to 39,005 Shares in any 30 day period which is 2% of the 1,950,268 issued and outstanding Shares at April 11, 2017.
The Shares may be purchased for cancellation from April 19, 2017 to April 18, 2018 through the facilities of the Toronto Stock Exchange or other alternative Canadian trading systems and may only be purchased at a price per Share not exceeding the last published net asset value per Share. Purpose Investments Inc., the manager of the Company, believes that such purchases are in the best interest of the Company and are a desirable use of its available funds.
On April 15, 2016, the Company announced that it was making a normal course issuer bid, which commenced April 19, 2016, to purchase up to 206,794 Shares through the facilities of the TSX or alternative Canadian trading systems. The Company repurchased 128,115 Shares at a weighted average price of $11.73 per share under the bid, which will expire on April 18, 2017.
About Purpose Investments Inc.
Purpose Investments is an asset management firm inspired by the belief that all investors should have access to great investment products along with low fees. Purpose believes in focusing first on managing risk and creating value that is currently missing from the marketplace, thus empowering all Canadians to be better investors. Purpose has over $3.0 billion in assets under management and currently offers 36 exchange traded funds and mutual funds and 7 closed-end funds across multiple asset classes and both traditional and alternative investment strategies.