CALGARY, Dec. 23, 2013 /CNW/ - Middlefield Can-Global REIT Income Fund announced that it has filed a notice with the Toronto Stock Exchange (the "TSX") and received its approval to make a normal course issuer bid ("NCIB"). Purchases pursuant to the NCIB will be made in the open market through the facilities of the TSX, Alpha and/or alternative trading systems. This NCIB will commence on December 28, 2013 and will terminate on December 27, 2014. In accordance with the Declaration of Trust by which the Fund is governed, market purchases pursuant to its NCIB may be effected by the Fund.
The Fund had 7,115,007 units issued and outstanding as at December 17, 2013. The Fund may, during the 12 month period commencing December 28, 2013 purchase on the TSX up to 711,500 units, being 10% of the public float and may not, in any 30 day period, purchase more than 142,300 units, being 2% of the units issued and outstanding. The Fund will hold in treasury for resale all units purchased pursuant to the bid. As at December 17, 2013 the Fund had purchased 347,400 units at an average price of $9.66 per unit under its previously approved normal course issuer bid. Middlefield Can-Global REIT is implementing the NCIB to allow it to purchase units if and when it makes sense to do so.
Middlefield Can-Global REIT trades on the Toronto Stock Exchange under the symbol "RCO.UN".
SOURCE: Middlefield Can-Global REIT Income Fund
For further information:
visit our website at www.middlefield.com or contact the undersigned:
Managing Director, Sales and Marketing