TORONTO, November 23, 2011 - 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 2,562,470 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 25,624,700 Shares as of the close of November 17, 2011. The Corporation will not purchase in any given 30-day period, in the aggregate, more than 512,494 Shares, being 2% of the issued and outstanding Shares as of the close of November 17, 2011. Purchases of Shares under the NCIB may commence on November 25, 2011. The Board of Directors of 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 24, 2012.
On November 23, 2010, the Fund announced that it was making a Normal Course Issuer Bid, which commenced November 25, 2010, to purchase up to 2,595,000 Shares through the facilities of the TSX. Under the bid, which expires on November 24, 2011, an aggregate of 325,300 Shares were repurchased at an average price of $9.33 per Share excluding commissions.
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