TORONTO, June 28, 2013 – JFT Strategies Fund (the "Fund") (TSX: "JFS.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 842,015 Class A Units of the Fund, representing approximately 10% of the public float which is the same number as the Fund’s issued and outstanding Class A Units, being 8,420,153 Class A Units as of the close of business of June 24, 2013. The Fund will not purchase in any given 30-day period, in the aggregate, more than 168,403 Class A Units, representing approximately 2% of the issued and outstanding Class A Units as of the close of business of June 24, 2013. Purchases of Class A Units under the NCIB may commence on July 3, 2013. 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 Class A Units purchased by the Fund pursuant to the NCIB will be cancelled. The NCIB will expire on July 2, 2014.
On June 28, 2012, the Fund announced that it was making a Normal Course Issuer Bid, which commenced July 3, 2012, to purchase up to 912,415 Class A Units through the facilities of the TSX. The Corporation repurchased 44,600 Class A Units at a weighted average price of $9.50 per Class A Unit under the bid, which will expire on July 2, 2013.
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.