The average daily trading volume of the Units over the most recently completed six calendar months was 26,179 Units. Accordingly, for purposes of the TSX rules, the Trust is entitled to purchase, on any trading day, up to 6,544 Units and to make block purchases of its Units which exceed such daily limit no more frequently than once per calendar week.
The Trust remains focussed on its primary strategy of acquiring new pharmaceutical royalty streams, and using its capital for that purpose. The Trust's manager believes that there is a robust and growing pipeline of royalty stream acquisitions opportunities and is active in reviewing a number of potential transactions. However, it is also the opinion of the Trust's manager that, from time to time, the market price of the Trust's Units may not adequately reflect the value of the underlying assets of the Trust, and the Trust wishes to take advantage of the market trading prices of its Units in those instances.
In connection with the NCIB, the Trust has established an automatic purchase plan with its designated broker (the "Plan") to allow for purchases of Units during self-imposed blackout periods, subject to certain parameters as to price and number of Units. Outside of these pre-determined black-out periods, Units will be repurchased in accordance with management's discretion, subject to applicable law. The Plan constitutes an automatic plan for purposes of applicable Canadian securities legislation and has been pre-cleared by the TSX.
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Caution concerning forward-looking statements
This news release contains forward-looking information within the meaning of applicable securities legislation. Forward-looking information generally can be identified by the use of forward-looking words such as "expect", "continue", "anticipate", "intend", "aim", "plan", "believe", "budget", "estimate", "forecast", "foresee", "close to", "target" or negative versions thereof and similar expressions. Some of the specific forward-looking information in this news release includes, among other things, statements regarding future purchases of trust units under the Trust's NCIB program. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the Trust's control that could cause actual results to differ materially from those that are disclosed in or implied by such forward-looking information. These risks and uncertainties include, but are not limited to, those that are disclosed in the Trust's most recent annual information form. All forward-looking information in this news release speaks as of the date of this news release. The Trust does not undertake to update any such forward-looking information whether as a result of new information, future events or otherwise except as required by law. Additional information about these assumptions and risks and uncertainties is contained in the Trust's filings with securities regulators, including its latest annual information form and Management's Discussion and Analysis. These filings are also available at the Trust's website at drihealthcaretrust.com.
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