TORONTO, March 28, 2013 /CNW/ - NexC Partners Corp. (the "Company") (TSX: NXC) has received approval for a normal course issuer bid to purchase up to 309,288 Class A Shares (the "Shares") of the Company, representing approximately 10% of the public float of 3,092,880 Shares. The Company may purchase up to 61,857 Shares in any 30 day period which is 2% of the 3,092,880 issued and outstanding Shares at March 28, 2013.
The Shares may be purchased for cancellation from April 2, 2013 to April 1, 2014 through the facilities of the Toronto Stock Exchange or other eligible alternative markets and may only be purchased at a price per Share not exceeding the last published net asset value per Share. Purpose Investments Inc., the Manager of the Company, believes that such purchases are in the best interest of the Company and are a desirable use of its available funds.
Purpose Investments Inc. is a Canadian asset management firm committed to enabling all investors to have access to great investment products at reasonable fees. The Class A Shares of the Company are listed for trading on the Toronto Stock Exchange under the symbol NXC.
SOURCE: NexC Partners Corp.
For further information:
Vice President, Marketing
Purpose Investments Inc.
Tel: (416) 583-3853