TORONTO, ONTARIO--(Marketwired - Sept. 15, 2016) - Partners Value Investments LP (the "Partnership") (TSX VENTURE:PVF) announced today that it received approval from the TSX Venture Exchange (the "Exchange") for its proposed normal course issuer bid (the "Bid") to purchase up to 7,354,383 of its non-voting equity limited partnership units (the "Equity LP Units"), representing approximately 10% of the public float of its currently outstanding Equity LP Units. The period of the Bid will remain effective from September 21, 2016 to September 20, 2017, or such earlier date that the Partnership completes its purchases.
Purchases by the Partnership pursuant to the Bid will be made by its broker, RBC Capital Markets, through the facilities of the Exchange and all applicable exchanges in Canada. The price which the Partnership will pay for any Equity LP Units purchased will be the market price of the Equity LP Units at the time of acquisition. Any Equity LP Units acquired through the Bid will be cancelled. As of September 13, 2016, there were 73,543,831 Equity LP Units outstanding.
From time to time, when the Partnership does not possess material non-public information about itself or its securities, it may enter into a pre-defined plan with its broker to allow for the repurchase of securities at times when it ordinarily would not be active in the market due to its own internal trading blackout periods, insider trading rules or otherwise. Any such plans entered into with the Partnership's broker will be adopted in accordance with applicable Canadian securities laws.
Note: This news release contains "forward-looking information" within the meaning of Canadian provincial securities laws and "forward-looking statements" within the meaning of applicable Canadian securities regulations. Expressions which are predictions of or indicate future events, trends or prospects and which do not relate to historical matters identify forward-looking information and forward-looking statements.
Although the Partnership believes that its anticipated future results, performance or achievements expressed or implied by the forward-looking statements and information are based upon reasonable assumptions and expectations, the reader should not place undue reliance on forward-looking statements and information because they involve known and unknown risks, uncertainties and other factors, many of which are beyond its control, which may cause the actual results, performance or achievements of the Partnership to differ materially from anticipated future results, performance or achievement expressed or implied by such forward-looking statements and information.
Factors that could cause actual results to differ materially from those contemplated or implied by forward-looking statements and information include, but are not limited to: the financial performance of Brookfield Asset Management Inc., the impact or unanticipated impact of general economic, political and market factors; the behavior of financial markets, including fluctuations in interest and foreign exchanges rates; global equity and capital markets and the availability of equity and debt financing and refinancing within these markets; strategic actions including dispositions; changes in accounting policies and methods used to report financial condition (including uncertainties associated with critical accounting assumptions and estimates); the effect of applying future accounting changes; business competition; operational and reputational risks; technological change; changes in government regulation and legislation; changes in tax laws, catastrophic events, such as earthquakes and hurricanes; the possible impact of international conflicts and other developments including terrorist acts; and other risks and factors detailed from time to time in the Partnership's documents filed with the securities regulators in Canada.
The Partnership cautions that the foregoing list of important factors that may affect future results is not exhaustive. When relying on the Partnership's forward-looking statements and information, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Except as required by law, the Partnership undertakes no obligation to publicly update or revise any forward-looking statements and information, whether written or oral, that may be as a result of new information, future events or otherwise.