CALGARY, April 16, 2013 /CNW/ - Uranium Focused Energy 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 April 18, 2013 and will terminate on April 17, 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 9,530,304 units issued and outstanding as at April 8, 2013. The Fund may, during the 12 month period commencing April 18, 2013 purchase on the TSX up to 952,825 units, being 10% of the public float and may not, in any 30 day period, purchase more than 190,606 units, being 2% of the units issued and outstanding. Uranium will hold in treasury for resale all units purchased pursuant to the bid. As at April 8, 2013 the Fund had purchased 74,200 units at an average price of $2.24 per unit under its previously approved normal course issuer bid. Uranium is implementing the NCIB to allow it to purchase units if and when it makes sense to do so.
Uranium Focused Energy Fund trades on the Toronto Stock Exchange under the symbol "UF.UN".
SOURCE: Uranium Focused Energy Fund
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