Ms. Nancy Tham reports
MBN CORPORATION ANNOUNCES NORMAL COURSE ISSUER BID
MBN Corp. has filed a notice with the Toronto Stock Exchange and has received its approval to make a normal course issuer bid for its equity shares through the facilities of the TSX. This NCIB will commence on Sept. 23, 2017, and will terminate on Sept. 22, 2018.
The fund had 3,919,151 equity shares issued and outstanding as at Sept. 11, 2017. The fund may, during the 12-month period commencing Sept. 23, 2017, purchase on the TSX up to 295,683 equity shares, being 10 per cent of the public float and may not, in any 30-day period, purchase more than 78,383 equity shares, being 2 per cent of the equity shares issued and outstanding. The fund will cancel all equity shares purchased pursuant to the bid. As at Sept. 11, 2017, the fund had purchased 102,400 equity shares on the TSX at an average price of $5.96 per equity share under its previously approved normal course issuer bid. The fund had the ability to purchase up to 306,023 equity shares 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.
We seek Safe Harbor.
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