CALGARY, May 18, 2018 /CNW/ - MINT 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 May 25,
2018 and will terminate on May
24, 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 22,761,653 units issued and outstanding as at
May 11, 2018. The Fund may,
during the 12 month period commencing May
25, 2018 purchase on the TSX up to 2,265,137 units, being
10% of the public float and may not, in any 30 day period, purchase
more than 455,233 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 May 11, 2018 the Fund had purchased 299,900 units
on the TSX at an average price of $6.74 per unit under its previously approved
normal course issuer bid. The Fund had the ability to
purchase up to 2,849,753 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.
MINT trades on the Toronto Stock Exchange under the symbol
"MID.UN".
This press release may contain forward-looking information,
including with respect to future purchases of Units by the
Corporation. 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 MINT Income Fund