CanBanc Income Corp. Announces Normal Course Issuer Bid for Units

CanBanc Income Corp. (the "Corporation") (TSX:CIC) announced today acceptance by
the Toronto Stock Exchange (the "TSX") of the Corporation's 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 2,402,700
equity shares ("Shares") of the Corporation, representing approximately 10% of
the public float which is the same number as the Corporation's issued and
outstanding Shares, being 24,027,000 Shares as of the date hereof. The
Corporation will not purchase in any given 30-day period, in the aggregate, more
than 480,540 Shares, being 2% of the issued and outstanding Shares as of the
date hereof. Purchases of Shares under the NCIB may commence on October 1, 2010.
The Board of Directors of First Asset Investment Management Inc., the manager of
the Corporation, believes that such purchases are in the best interests of the
Corporation and are a desirable use of the Corporation's funds. All purchases
will be made through the facilities of the TSX in accordance with its rules and
policies. All Shares purchased by the Corporation pursuant to the NCIB will not
be cancelled and will be held for resale. The NCIB will expire on September 30,
2011.