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Enter Symbol
or Name
USA
CA



Canbanc Income Corp
Symbol CIC
Shares Issued 15,962,759
Close 2014-09-30 C$ 11.13
Market Cap C$ 177,665,508
Recent Sedar Documents

Canbanc Income to buy back up to 1.59 million shares

2014-10-01 12:10 ET - News Release

An anonymous director reports

CANBANC INCOME CORP. ANNOUNCES NORMAL COURSE ISSUER BID FOR SHARES

The Toronto Stock Exchange (TSX) has accepted Canbanc Income Corp.'s notice of intention to make a normal course issuer bid (NCIB).

Pursuant to the NCIB, the corporation proposes to purchase through the facilities of the TSX, from time to time, if it is considered advisable, up to 1,596,275 equity shares of the corporation, representing approximately 10 per cent of the public float which is the same number as the corporation's issued and outstanding shares, being 15,962,759 shares as of Sept. 23, 2014. The corporation will not purchase in any given 30-day period, in the aggregate, more than 319,255 shares, being 2 per cent of the issued and outstanding shares. Purchases of shares under the NCIB may commence on Oct. 3, 2014.

First Asset Investment Management Inc., the manager of the corporation, believes that such purchases are in the best interests of the corporation and are a desirable use of the corporation's funds. All purchases will be made through the facilities of the TSX in accordance with its rules and policies. All shares purchased by the corporation pursuant to the NCIB will be cancelled. The NCIB will expire on Oct. 2, 2015.

On Oct. 1, 2013, the corporation announced that it was making a normal course issuer bid, which commenced Oct. 3, 2013, to purchase up to 1,990,678 shares through the facilities of the TSX. Under the bid, which expires on Oct. 2, 2014, as at the date hereof, an aggregate of 100,100 shares was repurchased at a weighted average price of $10.31 per share excluding commissions.

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