CALGARY, April 11, 2018 /CNW/ - Global Innovation
Dividend Fund (the "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
April 13, 2018 and will terminate on
April 12, 2019. 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 8,000,000 units issued and outstanding as at
April 6, 2018. The Fund may,
during the 12 month period commencing April
13, 2018 purchase on the TSX up to 795,000 units, being 10%
of the public float and may not, in any 30 day period, purchase
more than 160,000 units, being 2% of the units issued and
outstanding. The Fund will cancel all units purchased
pursuant to the bid. Subject to receiving all necessary
regulatory approvals, the Fund may, in lieu of canceling units
acquired, hold the units in treasury for resale. 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.
Global Innovation Dividend Fund trades on the Toronto
Stock Exchange under the symbol "BL.UN".
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.
SOURCE Global Innovation Dividend Fund