Harvest Canadian Income & Growth Fund
TSX : HCF.UN
TSX : HCF.WT

April 19, 2011 16:02 ET

Harvest Canadian Income & Growth Fund (TSX:HCF.UN)(TSX:HCF.WT) Files Amended Normal Course Issuer Bid

OAKVILLE, ONTARIO--(Marketwire - April 19, 2011) - Harvest Portfolios Group Inc., the manager (the "Manager") of Harvest Canadian Income & Growth Fund (the "Fund")(TSX:HCF.UN)(TSX:HCF.WT), is pleased to announce that it has amended the Fund's normal course issuer bid currently in place (the "Amended Bid"). Under the normal course issuer bid currently in place, the Fund may purchase 302,812 listed units of the Fund (the "Units"). Under the Amended Bid, the Fund may also purchase, from time to time as the Manager considers advisable, up to a maximum of 302,832 listed warrants of the Fund (the "Warrants). As of July 23, 2010, the date of the original normal course issuer bid, the Fund had a public float of 3,028,122 Units and 3,028,322 Warrants, calculated as the issued and outstanding Units and Warrants, respectively, less Units and Warrants held by insiders of the Fund. The purpose of the normal course issuer bid is to provide the Fund with a mechanism to decrease the potential spread between the net asset value per Unit and the market price of the Units and to provide enhanced liquidity for the Units and Warrants.

The normal course issuer bid purchases will be made in accordance with applicable regulations, and will be effected through the facilities of the Toronto Stock Exchange over a maximum period of 12 months commencing on July 27, 2010 and ending on the earlier of July 26, 2011 or on such date as the Fund completes its purchase under the normal course issuer bid or on such date as the Fund may otherwise determine. Units purchased will be cancelled. The Fund will not purchase in any 30-day period more than 60,566 Units or 60,566 Warrants, being 2% of the issued and outstanding Units and Warrants, respectively, as at July 23, 2010.

Certain statements included in this news release constitute forward-looking statements. The forward-looking statements are not historical facts but reflect the Manager's current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations, including, but not limited to, the ability of the Manager to purchase Units for cancellation by way of the normal course issuer bid, for whatever reason. Readers are cautioned not to place undue reliance on forward-looking statements due to the inherent uncertainty therein. The Manager undertakes no obligation to update publicly or otherwise revise any forward-looking statement or information whether as a result of new information, future events or other such factors which affect this information, except as required by law. For a complete disclosure record for the Fund please visit the Fund's profile on www.sedar.com.

Contact Information

  • For media inquiries or additional information:
    please contact, Harvest Portfolios Group Inc.
    1-866-998-8298
    info@harvestportfolios.com