TORONTO, July 3, 2007 - Global 45 Split Corp. (the "Company") (TSX: GFV and GFV.PR.A) announced today acceptance by the Toronto Stock Exchange ("TSX") of the Company's Notice of Intention to make a Normal Course Issuer Bid for its Preferred Shares and Class A Shares (collectively, the "Shares").
Under this normal course issuer bid, the Company may purchase, from time to time, if it is considered advisable, up to 152,665 Preferred Shares and 152,665 Class A Shares, representing approximately 10% of the public float of the Shares, which is the same number as the Company's issued and outstanding Shares, being 1,526,656 Preferred Shares and 1,526,656 Class A Shares as of the date hereof. Purchases of Shares under the normal course issuer bid will commence on July 5, 2007 and will terminate on July 4, 2008 or on such earlier date as the Company may complete its purchases. 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 Preferred Shares and Class A Shares will be the respective prevailing market price of such Preferred Shares and Class A Shares at the time of acquisition. Shares that are purchased will be cancelled.
The Board of Directors of the Company believes that the proposed purchases are in the best interests of the Company and are a desirable use of corporate funds.
Under its previous normal course issuer bid, which commenced on July 5, 2006 and which expires on July 4, 2007, the Company has purchased and cancelled a total of 21,400 Preferred Shares and 21,400 Class A Shares at an average price of $10.85 per Preferred Share and $14.29 per Class A Share, respectively.
For further information, please contact Rob MacNiven, Investor Relations, First Asset Funds Inc. at 416-642-1289 or 1-877-642-1289 or visit www.firstassetfunds.com.