MINT Income Fund Announces Normal Course Issuer Bid
May 19 2020 - 7:32AM
MINT Income Fund (the “Fund”) (TSX: MID.UN) 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”).
Purchases pursuant to the NCIB will be made in the open
market through the facilities of the TSX. This NCIB will
commence on May 25, 2020 and will terminate on May 24, 2021.
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 15,292,107 units issued and
outstanding as at May 11, 2020. The Fund may, during the 12
month period commencing May 25, 2020 purchase on the TSX up to
1,519,758 units, being 10% of the public float and may not, in any
30 day period, purchase more than 305,842 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 May
11, 2020 the Fund had purchased 206,500 units on the TSX at an
average price of $5.44 per unit under its previously approved
normal course issuer bid. The Fund had the ability to
purchase up to 1,960,323 units under its last NCIB. 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.
The Fund trades on the Toronto Stock Exchange
under the symbol “MID.UN”.
For further information visit our website at
www.middlefield.com or contact the
undersigned:
Nancy ThamManaging Director, Sales and
Marketing(416) 847-5349
May 19, 2020
This press release may contain forward-looking
information, including with respect to future purchases of Units by
the Fund. 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.
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