TORONTO, March 22, 2012 - Can-Financials Income Corp. (the "Corporation") (TSX:FIC) 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 902,970 Shares of the Corporation, representing approximately 10% of the public float, being 9,029,700 Shares as of the close of business of March 7, 2012. The Corporation will not purchase in any given 30-day period, in the aggregate, more than 180,594 Shares, representing approximately 2% of the issued and outstanding Shares, being 9,029,700 Shares as of the close of business of March 7, 2012. Purchases of Shares under the NCIB may commence on March 26, 2012. 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 March 25, 2013.
On March 23, 2011, the Corporation announced that it was making a Normal Course Issuer Bid, which commenced March 25, 2011, to purchase up to 937,900 Shares through the facilities of the TSX. The Corporation repurchased 349,300 Shares at a weighted average price of $8.31 per share under the bid, which will expire on March 24, 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