TORONTO, April 14 /CNW/ - Uranium Focused Energy Fund (the "Fund")
announced today its intention to make a normal course issuer bid for
its units through the facilities of the Toronto Stock Exchange (the
"TSX"). This normal course issuer bid will commence on April 18, 2011
and will terminate on April 17, 2012. In accordance with the
Declaration of Trust by which the Fund is governed, market purchases
pursuant to its normal course issuer bid may be effected by the Fund.
The Fund had 12,149,527 units issued and outstanding as at April 4,
2011. Uranium may, during the 12 month period commencing April 18,
2011 purchase on the TSX up to 1,207,197 units, being 10% of the public
float of 12,071,977 units and may not, in any 30 day period, purchase
more than 242,990 units, being 2% of the units issued and outstanding.
Uranium will hold in treasury for resale all units purchased pursuant
to the bid. As at April 4, 2011 Uranium had purchased 191,600 units at
an average price of $4.18 per unit under its previously approved normal
course issuer bid. Uranium believes that its units represent good
value for the Fund and purchases under the normal course issuer bid may
serve to enhance returns to unitholders.
The units of Uranium Focused Energy Fund trade on the Toronto Stock
Exchange under the symbol "UF.UN".
SOURCE Uranium Focused Energy Fund
For further information:
visit our website at www.middlefield.com or contact the undersigned:
Managing Director, Sales and Marketing