TORONTO, October 24, 2011 - Canadian REIT Income Fund (the "Fund") (TSX: "RIU.UN") announced today acceptance by the Toronto Stock Exchange (the "TSX") of the Fund'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 475,000 Units of the Fund, representing approximately 10% of the public float which is the same number as the Fund's issued and outstanding Units, being 4,750,000 Units as of the date hereof. The Fund will not purchase in any given 30-day period, in the aggregate, more than 95,000 Units, being 2% of the issued and outstanding Units as of the date hereof. Purchases of Units under the NCIB may commence on October 26, 2011. The Board of Directors of First Asset Investment Management Inc., the manager of the Fund, believes that such purchases are in the best interests of the Fund and are a desirable use of the Fund's funds. All purchases will be made through the facilities of the TSX in accordance with its rules and policies. All Units purchased by the Fund pursuant to the NCIB will be cancelled. The NCIB will expire on October 25, 2012.
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.