Can-Financials Income Corp.

Can-Financials Income Corp.
First Asset

First Asset

March 23, 2011 14:57 ET

Can-Financials Income Corp. Announces Normal Course Issuer Bid For Units

TORONTO, ONTARIO--(Marketwire - March 23, 2011) - Can-Financials Income Corp. (the "Corporation") (TSX:FIC) 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 937,900 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 9,379,000 Shares as of the date hereof. The Corporation will not purchase in any given 30-day period, in the aggregate, more than 187,580 Shares, being 2% of the issued and outstanding Shares as of the date hereof. Purchases of Shares under the NCIB may commence on March 25, 2011. The Board of Directors of 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 March 24, 2012.

Contact Information

  • First Asset
    Rob MacNiven
    Investor Relations
    416-642-1289 or 1-877-642-1289