CALGARY, Dec. 21, 2017 /CNW/ - Middlefield Can-Global REIT
Income 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"). Purchases pursuant to the
NCIB will be made in the open market through the facilities of the
TSX. This NCIB will commence on December 28, 2017 and will terminate on
December 27, 2018. 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 2,999,106 units issued and outstanding as at
December 14, 2017. The Fund
may, during the 12 month period commencing December 28, 2017 purchase on the TSX up to
299,910 units, being 10% of the public float and may not, in any 30
day period, purchase more than 59,982 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
December 14, 2017 the Fund had
purchased 35,700 units on the TSX at an weighted average price of
$11.02 per unit under its previously
approved normal course issuer bid. The Fund had the ability to
purchase up to 331,054 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.
Middlefield Can-Global REIT trades on the Toronto Stock Exchange
under the symbol "RCO.UN".
SOURCE Middlefield Can-Global REIT Income Fund