GMINCOME & GROWTH FUND ANNOUNCES NORMAL COURSE ISSUER BID
TORONTO, Nov. 16 /CNW/ - GMIncome & Growth Fund announced today its intention to make a normal course issuer bid for its units through the facilities of the Toronto Stock Exchange (the "TSX"). This normal course issuer bid will commence on November 18, 2010 and will terminate on November 17, 2011. In accordance with the Declaration of Trust by which the Fund is governed, market purchases pursuant to its normal course issuer bid may be effected by the Fund.
The Fund had 2,595,000 units issued and outstanding as at November 16, 2010. The Fund may, during the 12 month period commencing November 18, 2010 purchase on the TSX up to 231,380 units, being 10% of the public float of 2,313,800 units and may not, in any 30 day period, purchase more than 51,900 units, being 2% of the units issued and outstanding. The Fund will cancel all units purchased pursuant to the bid. Subject to receiving all necessary regulatory approvals, the Fund may, in lieu of canceling units acquired, hold the units in treasury for resale. GMIncome & Growth Fund believes that its units represent good value for the Fund and purchases under the normal course issuer bid may serve to enhance returns to unitholders.
GMIncome & Growth Fund trades on the Toronto Stock Exchange under the symbol "GMF.UN".
For further information:
visit our website at www.middlefield.com or contact the undersigned:
Nancy Tham
Senior Vice President
(416) 847-5349
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