Citadel Income Fund Announces Increased Normal Course Issuer Bid

    




 CTF.UN 

 TORONTO, March 12, 2012 /CNW/ - Crown Hill Capital Corporation, the  Manager and Trustee of Citadel Income Fund (the "Trust"), announced  today that it has received approval from the Toronto Stock Exchange to  increase the number of units which may be purchased under its normal  course issuer bid from 3,026,052 units, representing approximately 10%  of the public float of 30,260,515 units as of January 18, 2012 to  5,168,986 units, representing approximately 10% of the public float of  51,689,857 units as of March 12, 2012. Additionally, the Trust may not  purchase more than 1,037,614 units in any 30 day period, representing  2% of the issued and outstanding units. 

 The Trust is increasing its normal course issuer bid to provide  increased liquidity for the benefit of investors.  The number of units  purchased under the normal course issuer bid from February 1, 2012 to  March 9, 2012 was 1,213,000 at a weighted average price of $4.03. 

 These purchases will be made in accordance with applicable regulations  over a maximum period ending January 31, 2013. 

 Certain statements contained in this news release constitute  forward-looking information within the meaning of Canadian securities laws. Forward-looking information may relate to matters disclosed in this  press release and to other matters identified in public filings  relating to the Fund, to the future outlook of the Fund and anticipated events or  results and may include statements regarding the future financial  performance of the Fund. In some cases, forward-looking information can be  identified by terms such as "may", "will", "should", "expect", "plan", "anticipate", "believe", "intend", "estimate", "predict", "potential",  "continue" or other similar expressions concerning matters that are not historical facts. Actual results may vary from such forward-looking  information. 

CITADEL INCOME FUND


CONTACT:  please contact the Investor Relations department at 416.361.9673ortoll-free at 1.877.261.9674. 


    

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