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DISSEMINATION IN THE UNITED STATES OF
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TORONTO, Nov. 24, 2014 /CNW/ - Can-60 Income Corp. (the
"Corporation") (TSX: "CSY") announced today
acceptance by the Toronto Stock Exchange (the "TSX") of the
Corporation's Notice of Intention to make a Normal Course Issuer
Bid (the "NCIB").
Pursuant to the NCIB, the Fund proposes to purchase through the
facilities of the TSX, from time to time, if it is considered
advisable, up to 1,236,199 non-voting equity shares ("Shares") of
the Corporation, representing approximately 10% of the public float
which is the same number as the Corporation's issued and
outstanding Shares, being 12,361,996 Shares as of the close of
November 19, 2014. The
Corporation will not purchase in any given 30-day period, in the
aggregate, more than 247,239 Shares, being 2% of the issued and
outstanding Shares as of the close of November 19, 2014. Purchases of Shares
under the NCIB may commence on November 26,
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 November 25, 2015.
On November 22, 2013, the Fund
announced that it was making a Normal Course Issuer Bid, which
commenced November 26, 2013, to
purchase up to 1,747,834 Shares through the facilities of the
TSX. Under the bid, which will expire on November 25, 2014, an aggregate of 39,800 Shares
were repurchased at a weighted average price of $7.994 per Share excluding commissions.
SOURCE First Asset
