CALGARY, Sept. 19, 2016 /CNW/ - MBN Corporation
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 equity shares through the
facilities of the TSX. This NCIB will commence on
September 23, 2016 and will terminate
on September 22, 2017.
The Fund had 4,022,551 equity shares issued and outstanding as
at September 9, 2016. The Fund
may, during the 12 month period commencing September 23, 2016 purchase on the TSX up to
306,023 equity shares, being 10% of the public float and may not,
in any 30 day period, purchase more than 80,451 equity shares,
being 2% of the equity shares issued and outstanding. The
Fund will cancel all equity shares purchased pursuant to the
bid. As at September 9, 2016
the Fund had purchased 196,300 equity shares at an average price of
$5.35 per equity share 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.
MBN Corporation trades on the Toronto Stock Exchange under the
symbol "MBN".
This press release may contain forward-looking information,
including with respect to future purchases of Equity Shares by the
Corporation. The forward-looking information contained in
this press release constitutes current expectations, as of the date
of this press release, with respect to the matters covered
hereby. Investors and others should not assume that any
forward-looking statement contained in this press release
represents an estimate as of any date other than the date of this
press release.
SOURCE MBN Corporation