Toronto, July 5, 2005 - Global 45 Split Corp. (TSX: GFV and GFV.PR.A) announces that to permit the Company to acquire Preferred Shares or Class A Shares (the "Shares"), the Company has filed with the Toronto Stock Exchange a notice of intention to make normal course purchases of its Shares. The TSX has accepted the notice.
Under this normal course issuer bid the Company may purchase up to 179,460 Preferred Shares or 179,460 Class A Shares of the Company, representing 10% of the public float of the Company, which is the same number as the Company's outstanding Shares, being 1,794,600 Preferred Shares and 1,794,600 Class A Shares as of the date hereof. Purchases of Shares will commence on July 5, 2005 and will terminate on July 4, 2006, or on such earlier date as the Company may complete its purchases pursuant to the Notice. Purchases will be made in the open market through the facilities of the TSX in accordance with its rules and policies. The price that the Company will pay for any such Shares will be the market price of such Shares at the time of acquisition. Shares purchased will be cancelled.
Under its previous normal course issuer bid from July 5, 2004 to July 4, 2005, the Company purchased 5,400 Preferred Shares and 5,400 Class A Shares through the facilities of the TSX at an average price of $10.78 and $12.67 respectively.
To the knowledge of the Manager, no director, officer or other insider of the Manager or the Company intends at present to sell any Shares under this bid.
For further information, please call Tanya Carey, Investor Relations, First Asset Funds Inc. at 416-642-1289 or 1-877-642-1289 or visit www.firstassetfunds.com.