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CanBanc 8 Income Corp. Announces Normal Course Issuer Bid For Shares

Toronto, January 23, 2013 - CanBanc 8 Income Corp. (the "Corporation") (TSX:CBF) 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 Corporation proposes to purchase through the facilities of the TSX, from time to time, if it is considered advisable, up to 419,000 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 4,190,000 Shares as of January 16, 2013. The Corporation will not purchase in any given 30-day period, in the aggregate, more than 83,800 Shares, being 2% of the issued and outstanding Shares. Purchases of Shares under the NCIB may commence on January 25, 2013. 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 January 24, 2014.

For further information, please contact Rob MacNiven, Investor Relations, First Asset at 416-642-1289 or 1-877-642-1289 or visit www.firstasset.com