TORONTO, July 14, 2020 /CNW/ - Lysander Funds
Limited (the "Manager") is pleased to announce that the
Toronto Stock Exchange ("TSX") has approved the notice of
intention of Canso Credit Income Fund (the "Fund") to make a
normal course issuer bid (an "NCIB") for its outstanding
Class A units (TSX: PBY.UN) (the "Units").
Purchases of Units pursuant to the NCIB will be executed through
the facilities of the TSX and/or alternative Canadian trading
systems at market prices under the NCIB rules of the TSX. The
actual number of Units which may be purchased, and the timing of
any such purchases, will be determined by the Manager. All Units
purchased under the NCIB will be cancelled. The NCIB shall
terminate on the earlier of July 16, 2021 and the date on
which the Fund has acquired all the Units sought under the NCIB.
The Manager believes that the NCIB is in the best interest of the
Fund and its unitholders.
Canso Credit Income Fund
Pursuant to its NCIB notice, the Fund is entitled to purchase up
to 970,608 Units, representing 10% of its public float, during the
twelve-month period commencing July 17,
2020 and ending on July 16,
2021. Previously, the Fund was authorized to purchase
1,246,572 Units during the twelve-month period commencing
July 17, 2019 and ending on
July 16, 2020. As of
July 9, 2020, there were 9,706,083
Units of the Fund issued and outstanding and the public float was
9,706,083 Units. The Fund is permitted to purchase, under the NCIB,
up to 194,121 of its Units in any given 30-day period. Canso Credit
Income Fund will be purchasing Units pursuant to the NCIB. Although
no purchases were made under the previous NCIB, the Fund intends to
purchase Units under the current NCIB. Purchases will be made by
the Fund if the market price of the security is trading at a
discount to its calculated net asset value per unit.
This press release contains forward-looking statements. The
statements concerning the Fund's objectives, goals, strategies,
intentions, plans, beliefs, expectations and estimates, and the
business, operations, financial performance and condition Fund is a
forward-looking statement. The words "believe", "expect",
"anticipate", "estimate", "intend", "may", "will", "would" and
similar expressions and the negative of such expressions are
intended to identify forward-looking statements, although not all
forward-looking statements contain these identifying words. These
forward looking statements are subject to important risks and
uncertainties that could cause actual results to differ materially
from current expectations. While the Manager considers these risks
and uncertainties to be reasonable based on information currently
available, they may prove to be incorrect.
Commissions, trailing commissions, management fees and
expenses all may be associated with investment fund
investments. Please read the prospectus before
investing. Investment funds are not guaranteed, their values
change frequently and past performance may not be repeated. You
will usually pay brokerage fees to your dealer if you purchase or
sell units of Canso Credit Income Fund on the Toronto Stock
Exchange (TSX). Only Class A units of Canso Credit Income Fund are
listed on the TSX. If the units are purchased or sold on the TSX,
investors may pay more than the current net asset value when buying
units of the Fund and may receive less than the current net asset
value when selling them. There are ongoing fees and expenses
associated with owning units of Canso Credit Income Fund. The
Fund must prepare disclosure documents that contain key information
about the Fund. You can find more detailed information about
the Fund in these documents.
SOURCE Canso Credit Income Fund