TORONTO, ONTARIO--(Marketwired - April 15, 2016) - NexC Partners Corp. (the "Company") (TSX:NXC) has received approval for a normal course issuer bid to purchase up to 206,794 Class A Shares (the "Shares") of the Company, representing approximately 10% of the public float of 2,067,942 Shares as of April 6, 2016. The Company may purchase up to 41,369 Shares in any 30 day period which is 2% of the 2,068,467 issued and outstanding Shares at April 6, 2016.
The Shares may be purchased for cancellation from April 19, 2016 to April 18, 2017 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. ("Purpose"), 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 6, 2015, the Company announced that it was making a normal course issuer bid, which commenced April 8, 2015, to purchase up to 274,788 Shares through the facilities of the TSX or other eligible alternative markets. The Company repurchased 183,000 Shares at a weighted average price of $10.45 per share under the bid, which expired on April 7, 2016.
About Purpose Investments Inc.
Purpose 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 we believe is currently missing from the marketplace, thus empowering all Canadians to be better investors. Purpose has over $2.0 billion in assets under management and currently offers 17 exchange traded funds and mutual funds and 6 closed-end funds across multiple asset classes and both traditional and alternative investment strategies.
Contact Information:
Dan Rubin
Vice President, Marketing
(877) 789-1517
info@purposeinvest.com