TORONTO, June 5 /CNW/ - COMPASS Income 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 is intended
to commence on June 9, 2008 and will terminate on June 8, 2009. In accordance
with the Declaration of Trust by which COMPASS is governed, market purchases
pursuant to its normal course issuer bid may be effected by the Fund.
The Fund had 16,775,669 units issued and outstanding as at May 30, 2008.
COMPASS may, during the 12 month period commencing June 9, 2008 purchase on
the TSX up to 838,783 units, being 5% of the units outstanding and may not, in
any 30 day period, purchase more than 335,513 units, being 2% of the units
issued and outstanding. As at May 30, 2008 COMPASS had purchased 62,600 units
at an average price of $13.14 per unit under its previously approved normal
course issuer bid. COMPASS 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.
COMPASS trades on the Toronto Stock Exchange under the symbol "CMZ.UN".
For further information:
For further information: visit our website at www.middlefield.com or
contact the undersigned: Nancy Tham, Senior Vice President, (416) 847-5349