Copy of TODAY's NRFYI >>> for your viewing PLEASURE.... Press release from CNW Group
Pure Multi-Family REIT LP Announces Normal Course Issuer Bid
Thursday, September 28, 2017
Pure Multi-Family REIT LP Announces Normal Course Issuer Bid
17:02 EDT Thursday, September 28, 2017
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VANCOUVER, Sept. 28, 2017 /CNW/ - Pure Multi-Family REIT LP ("Pure Multi-Family") (TSXV: RUF.U, RUF.UN, RUF.DB.U; OTCQX: PMULF) announced today that the TSX Venture Exchange (the "TSX-V") has accepted its notice of intention to make a normal course issuer bid (the "Bid").
The notice provides that Pure Multi-Family may, during the twelve-month period commencing October 3, 2017 and ending October 2, 2018, purchase for cancellation on the TSX-V up to 1,000,000 class A units (each, a "Unit") in total, being approximately 1.3% of the outstanding Units as of the date hereof.
Pure Multi-Family believes that its Units are currently trading, or due to market volatility, may trade, in a price range that does not adequately reflect their underlying value based on Pure Multi-Family's business prospects and strong financial position. Accordingly, depending upon future price movements and other factors, Pure Multi-Family may purchase outstanding Units from time to time, provided that the repurchase of Units at such market prices continue to be an appropriate use of Pure Multi-Family's resources and benefit remaining unitholders by increasing their proportionate equity interest in Pure Multi-Family.
Purchases subject to this normal course issuer bid will be carried out pursuant to open market transactions through the facilities of the TSX-V by CIBC on behalf of Pure Multi-Family in accordance with applicable regulatory requirements. All Units purchased by Pure Multi-Family under the normal course issuer bid will be returned to treasury and cancelled.