TORONTO, September 12, 2013 Ė First Asset U.S. & Canada LifeCo Income Fund (the "Fund") (TSX: "ULC.UN") announced today acceptance by the Toronto Stock Exchange (the "TSX") of the Fundís Notice of Intention to make a Normal Course Issuer Bid (the "NCIB").
Pursuant to the NCIB, the Fund proposes to purchase through the facilities of the TSX, from time to time, if it is considered advisable, up to 1,350,000 Units of the Fund, representing approximately 10% of the public float which is the same number as the Fundís issued and outstanding Units, being 13,500,000 as of the close of business of September 9, 2013. The Fund will not purchase in any given 30-day period, in the aggregate, more than 270,000 Units, representing approximately 2% of the issued and outstanding Units as of the close of business of September 9, 2013. Purchases of Units under the NCIB may commence on September 16, 2013. The Fund believes that such purchases are in the best interests of the Fund and are a desirable use of the Fundís funds. All purchases will be made through the facilities of the TSX in accordance with its rules and policies. All Units purchased by the Fund pursuant to the NCIB will be cancelled. The NCIB will expire on September 15, 2014.
For further information, please call Investor Relations, First Asset at 416-642-1289 or 1-877-642-1289 or visit www.firstasset.com.
Not for dissemination to U.S. Newswire Services or for dissemination in the United States of America.