The average daily trading volume of BTB' units over the six completed calendar months prior to the date hereof, as calculated in accordance with TSX rules, is 89,628 units. Accordingly, under TSX rules, BTB is entitled to purchase, on any trading day, up to 22,407 units, representing 25% of such average daily trading volume.
The renewal of the NCIB will provide BTB with the ability to repurchase units at its discretion and in accordance with TSX rules from
The REIT's
In connection with the NCIB, BTB has entered into an automatic unit repurchase plan (the "Plan") to facilitate the purchase of units pursuant to the NCIB and under which its broker may purchase units according to a prearranged set of criteria. The Plan will enable the purchase of units at any time, including when BTB would not ordinarily be active in the market because of internal trading blackout periods.
Under its previous normal course issuer bid that commenced on
BTB is a real estate investment trust listed on the
BTB offers a distribution reinvestment plan to unitholders whereby the participants may elect to have their monthly cash distribution reinvested in additional units of BTB at a price based on the weighted average price for BTB's Units on the
For more detailed information, visit BTB's website at www.btbreit.com
This press release may contain forward-looking statements with respect to BTB. These statements generally can be identified by use of forward-looking words such as "may", "will", "expect", "estimate", "anticipate", "intends", "believe" or "continue" or the negative thereof or similar variations. The actual results and performance of BTB could differ materially from those expressed or implied by such statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Some important factors that could cause actual results to differ materially from expectations include, among other things, general economic and market factors, competition, changes in government regulation and the factors described from time to time in the documents filed by BTB with the securities regulators in
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