CALGARY, Sept. 18, 2015 /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, 2015 and will terminate on
September 22, 2016.
The Fund had 4,218,851 equity shares issued and outstanding as
at September 9, 2015. The Fund
may, during the 12 month period commencing September 23, 2015 purchase on the TSX up to
325,653 equity shares, being 10% of the public float and may not,
in any 30 day period, purchase more than 84,377 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 9, 2015
the Fund had purchased 206,500 equity shares at an average price of
$5.10 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
