CALGARY,
Sept. 18, 2014 /CNW/ - MBN
Corporation announced that it has filed a notice with the Toronto
Stock Exchange (the "TSX") and received its approval to make a
normal course issuer bid ("NCIB") for its equity shares through the
facilities of the TSX. This NCIB will commence on
September 23, 2014 and will terminate
on September 22, 2015.
The Fund had 4,425,351 equity shares issued and
outstanding as at September 16,
2014. The Fund may, during the 12 month period commencing
September 23, 2014 purchase on the
TSX up to 346,303 equity shares, being 10% of the public float and
may not, in any 30 day period, purchase more than 88,507 equity
shares, being 2% of the equity shares issued and outstanding.
The Fund will cancel all equity shares purchased pursuant to
the bid. As at September 16,
2014 the Fund had purchased 137,700 equity shares at an
average price of $5.29 per equity
share under its previously approved normal course issuer bid.
The manager of the Fund believes that such purchases are in the
best interest of the Fund and are a desirable use of its available
funds.
MBN Corporation trades on the Toronto Stock Exchange under the
symbol "MBN".
This press release may contain forward-looking information,
including with respect to future purchases of Equity Shares by the
Corporation. The forward-looking information contained in
this press release constitutes current expectations, as of the date
of this press release, with respect to the matters covered
hereby. Investors and others should not assume that any
forward-looking statement contained in this press release
represents an estimate as of any date other than the date of this
press release.
SOURCE MBN Corporation
