Big Rock Brewery Income Trust
TSX : BR.UN

Big Rock Brewery Income Trust
BIG ROCK BREWERY LTD.

BIG ROCK BREWERY LTD.

November 15, 2006 08:30 ET

Big Rock Brewery Income Trust Announces Normal Course Issuer Bid

CALGARY, ALBERTA--(CCNMatthews - Nov. 15, 2006) - Big Rock Brewery Income Trust (TSX:BR.UN) (the "Trust") is pleased to announce it has received approval from The Toronto Stock Exchange to make a normal course issuer bid for up to 302,048 trust units of the Trust (being 5% of the current issued and outstanding trust units) over a 12 month period; but not more than 120,818 trust units (2% of the issued and outstanding trust units) in any 30 day period, at the market price from time to time. As of November 13, 2006, there were 6,040,974 trust units issued and outstanding.

The bid may commence on November 17, 2006 and will continue until the earlier of November 16, 2007 and the date by which the Trust has acquired the maximum number of trust units which may be purchased under the bid. Purchases will be made through the facilities of The Toronto Stock Exchange only, in accordance with the requirements of The Toronto Stock Exchange, and the price at which the Trust will purchase its trust units will be the market price of the trust units at the time of acquisition. The Trust has appointed RBC Dominion Securities as its broker to conduct normal course issuer bid transactions. Trust units purchased by the Trust will be returned to treasury for cancellation. During the 12 months preceding November 15, 2006, the Trust did not repurchase any trust units.

Management of the administrator of the Trust believes that from time to time the market price of the trust units may not reflect their underlying value and that, at such times, the purchase of trust units for cancellation will increase the proportionate interest of, and be advantageous to, all remaining unitholders. Any purchases made by the Trust will also afford increased liquidity to those unitholders of the Trust who may wish to dispose of their trust units.

The Trust is an unincorporated open-ended limited purpose trust established under the laws of the Province of Alberta. The Trust owns all of the securities of Big Rock Brewery Ltd. ("Big Rock") which entitles the Trust to receive all cash flow available for distribution from the business of Big Rock, after debt service payments, maintenance capital expenditures and other cash requirements.

Contact Information

  • Big Rock Brewery Ltd.
    Ed McNally
    Chairman
    (403) 720-3239
    (403) 236-7523 (FAX)
    or
    Big Rock Brewery Ltd.
    Ken Barbet
    President and Chief Executive Officer
    (403) 720-3239
    (403) 236-7523 (FAX)
    or
    Big Rock Brewery Ltd.
    Tim A. Duffin, C.A.
    Chief Financial Officer
    (403) 720-3239
    (403) 236-7523 (FAX)