TORONTO, July 15, 2019 /CNW/ - Lysander Funds Limited
(the "Manager") is pleased to announce that the Toronto
Stock Exchange ("TSX") has approved the notice of intention
of Canso Credit Income Fund (the "Fund") to make a normal
course issuer bid (an "NCIB") for its outstanding Class A
units (TSX: PBY.UN) (the "Units").
Purchases of Units pursuant to the NCIB will be executed through
the facilities of the TSX and/or alternative Canadian trading
systems at market prices under the NCIB rules of the TSX. The
actual number of Units which may be purchased, and the timing of
any such purchases, will be determined by the Manager. All Units
purchased under the NCIB will be cancelled. The NCIB shall
terminate on the earlier of July 16, 2020 and the date on
which the Fund has acquired the Units sought under the NCIB. The
Manager believes that the NCIB is in the best interest of the Fund
and its unitholders.
Canso Credit Income Fund
Pursuant to its NCIB notice, the Fund is entitled to purchase up
to 1,246,572 Units, representing 10% of its public float, during
the twelve-month period commencing July 17,
2019 and ending on July 16,
2020. Previously the Fund was authorized to purchase
1,294,138 Units during the twelve month period commencing
July 17, 2018 and ending on
July 16, 2019. As of
July 4, 2019, there are 12,465,726
Units of the Fund issued and outstanding and the public float is
12,465,726 Units. The Fund is permitted to purchase, under the
NCIB, up to 249,314 of its Units in any given 30-day period. The
Fund will be purchasing Units pursuant to the NCIB. Although
no purchases were made under the previous NCIB, the Fund may, from
time to time, purchase Units under the current NCIB.
This press release contains forward-looking statements. The
statements concerning the Fund's objectives, goals, strategies,
intentions, plans, beliefs, expectations and estimates, and the
business, operations, financial performance and condition Fund are
forward-looking statements. The words "believe", "expect",
"anticipate", "estimate", "intend", "may", "will", "would" and
similar expressions and the negative of such expressions are
intended to identify forward-looking statements, although not all
forward-looking statements contain these identifying words. These
forward-looking statements are subject to various risks and
uncertainties that could cause actual results to differ materially
from current expectations. Readers are cautioned not to place
undue reliance on these forward-looking statements. While the
Manager considers these risks and uncertainties to be reasonable
based on information currently available, they may prove to be
incorrect.
You will usually pay brokerage fees to your dealer if you
purchase or sell Units of the Fund on the Toronto Stock
Exchange. If the Units are purchased or sold on the Toronto
Stock Exchange, investors may pay more than the current net asset
value when buying units of the Fund and may receive less than the
current net asset value when selling them. There are ongoing
fees and expenses associated with owning units of an investment
fund. An investment fund must prepare disclosure documents
that contain key information about the fund. You can find
more detailed information about the Fund in these documents.
Investment funds are not guaranteed, their values change
frequently, and past performance may not be repeated.
SOURCE Canso Credit Income Fund