Jun. 7, 2011 (Canada NewsWire Group) --
TORONTO, June 7, 2011 /CNW/ - COMPASS Income 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 is intended to commence on June 9, 2011 and will terminate on June 8, 2012. In accordance with the Declaration of Trust by which COMPASS is governed, market purchases pursuant to its normal course issuer bid may be effected by the Fund.
The Fund had 6,026,110 units issued and outstanding as at May 25, 2011. COMPASS may, during the 12 month period commencing June 9, 2011 purchase on the TSX up to 601,547 units, being 10% of the public float of 6,015,475 units and may not, in any 30 day period, purchase more than 120,522 units, being 2% of the units issued and outstanding. COMPASS will hold in treasury for resale all units purchased pursuant to the bid. As at May 25, 2011 COMPASS had purchased 73,600 units at an average price of $11.15 per unit under its previously approved normal course issuer bid. COMPASS 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.
COMPASS trades on the Toronto Stock Exchange under the symbol "CMZ.UN".
For further information visit our website at www.middlefield.com or contact the undersigned:
Nancy Tham
Managing Director, Sales and Marketing
(416) 847-5349
