Teranet Renews Normal Course Issuer Bid

    TORONTO, Nov. 15 /CNW/ - Teranet Income Fund (the "Fund") today announced
that it has renewed its normal course issuer bid (the "Bid") with the Toronto
Stock Exchange ("TSX").
    As of November 12, 2007, there are 144,785,691 Units issued and
outstanding, all of which are listed on the TSX. In addition to the foregoing,
as of such date, there are outstanding 10,198,309 Class B Limited Partnership
Units in Teranet Holdings Limited Partnership, all of which are exchangeable
into Units at any time. It is expected that under the Bid, up to
5,000,000 units ("Units") of the Fund will be purchased, representing
approximately 3.5% of the Units issued and outstanding. Purchases under the
Bid may begin on November 19, 2007 and will end no later than November 18,
2008. The Units will be purchased for cancellation through the facilities of
the TSX in accordance with its policies and at market price. The Fund has not
purchased any of its Units during the previous 12 months and the average daily
trading volume for the Units for the six months ending October 31, 2007 was
    In the opinion of the Fund's administrator, Teranet Inc., the Units have
been trading at levels that do not reflect the underlying value of the Fund.
As a result, depending upon future price movements and other factors, Teranet
Inc. believes that the Fund's Units may represent an attractive investment,
and the purchases of Units would be an appropriate and desirable use of
available funds. Management of Teranet Inc. is confident that the Fund's solid
cash flow and credit capacity can support this Bid without reducing its
ability to execute its growth strategy.

    About Teranet Income Fund and Teranet

    Teranet Income Fund is an unincorporated, open-ended trust established
under the laws of Ontario by way of a declaration of trust. The Fund was
created to indirectly acquire all of the outstanding shares of Teranet Inc.
The Units of the Fund trade on the Toronto Stock Exchange under the symbol
    Teranet Inc. is a leading provider of integrated land-based information
products and services. Teranet operates in Ontario and provides access to the
Ontario Electronic Land Registration System ("ELRS") through its proprietary
Teraview(R) application. This product enables customers to conduct electronic
registrations as well as title and writ searches relating to real property.
Teranet has the exclusive right to access the data in and operate the ELRS and
the Writs of Execution database, and create and market value-added products
and services in connection with the ELRS and writs until March 31, 2017. These
licences extend on a non-exclusive basis in perpetuity for the ELRS and until
2047 for writs. Teranet has leveraged its core capabilities to create
electronic service offerings in complementary information and e-commerce

    Forward-Looking Statements

    This news release contains statements that, other than statements of
historical fact, may be forward-looking statements about the objectives,
financial condition and results of operations of the Fund. These statements
are forward-looking and reflect management's current views and are based on
certain assumptions and expectations. Actual results could be materially
different from expectations if known or unknown risks affect the business, or
if estimates or assumptions turn out to be inaccurate. No forward-looking
statement is a guarantee of future results. Investors are cautioned not to
place undue reliance on such forward-looking statements. Forward-looking
statements do not take into account the effect that transactions or
non-recurring items announced or occurring after the statements are made may
have on the business. Teranet disclaims any intention or obligation to update
any forward-looking statement even if new information becomes available, as a
result of future events or for any other reason. These statements are subject
to a number of risks described in the Risks and Uncertainties section of the
third quarter MD&A, which is available at www.sedar.com. Risks and
Uncertainties may cause actual results to differ materially from those
contained in forward-looking statements.

For further information:

For further information: Bonnie Foster, Vice President Corporate
Communications, (416) 643-1095, bonnie.foster@teranet.ca; Tanis Robinson,
Manager, Investor Relations, (416) 643-1096, tanis.robinson@teranet.ca, 1
Adelaide Street East, Suite 600, Toronto, Ontario, M5C 2V9, Canada, Phone
(416) 360-5263, www.teranet.ca

Organization Profile


More on this organization

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890