CALGARY, Dec. 21, 2016 /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") for its units through the facilities of the TSX. This NCIB will commence on December 28, 2016 and will terminate on December 27, 2017. 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 3,310,541 units issued and outstanding as at December 14, 2016. The Fund may, during the 12 month period commencing December 28, 2016 purchase on the TSX up to 331,054 units, being 10% of the public float and may not, in any 30 day period, purchase more than 66,210 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 14, 2016 the Fund had purchased 85,000 units at an average price of $10.99 per unit under its previously approved normal course issuer bid. The manager of the Fund believes that such purchases are in the best interest of the Fund and are a desirable use of its available funds.
Middlefield Can-Global REIT trades on the Toronto Stock Exchange under the symbol "RCO.UN".
SOURCE Middlefield Can-Global REIT Income Fund
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