TORONTO, ONTARIO--(Marketwired - Jan. 10, 2014) - Bloom Income & Growth Canadian Fund (the "Fund") (TSX:BI.UN) announced today acceptance by the Toronto Stock Exchange (the "TSX") of the Fund'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 288,844 Units of the Fund, representing approximately 10% of the public float of 2,888,440 Units as of January 10, 2014. The Fund will not purchase in any given 30-day period, in the aggregate, more than 59,996 Units, being 2% of the issued and outstanding Units of 2,999,840 as of January 10, 2014. Purchases of Units under the NCIB may commence on January 14, 2014. Bloom Investment Counsel, Inc., the manager of the Fund, believes that such purchases are in the best interests of the Fund and are a desirable use of the Fund's resources. All purchases will be made through the facilities of the TSX in accordance with its rules and policies. All Units purchased by the Fund pursuant to the NCIB will be cancelled. The NCIB will expire on January 13, 2015.
On January 10, 2013, the Fund announced that it was making a Normal Course Issuer Bid, which commenced January 14, 2013, to purchase up to 326,130 units through the facilities of the TSX. The Fund repurchased 81,400 Units at a weighted average price of $8.5333 per unit under the bid, which expires on January 13, 2014.