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TORONTO, Jan. 21 /CNW/ --
TORONTO, Jan. 21 /CNW/ - Crown Hill Capital Corporation, the Manager
(the "Manager") of Citadel Income Fund (the "Trust"), announced today
that the Trust will renew its normal course issuer bid effective
February 1, 2011 to permit the Trust to purchase up to 3,203,825 of the
outstanding Trust Units ("Units") on the TSX from time to time. The
Trust may purchase Units in the market for cancellation if the Manager
determines that such purchases are accretive to holders of Units. Under
the normal course issuer bid, the Trust may purchase up to 3,203,825
Units, representing approximately 10% of the public float of 32,038,257
Units. The issued and outstanding Units as at January 18, 2011 is also
32,038,257. Additionally, the Trust may not purchase more than 640,765
Units in any 30 day period, representing 2% of the issued and
outstanding Units. These purchases will be made in accordance with
applicable regulations over a maximum period ending January 31, 2012.
Units purchased will be cancelled. The number of units purchased under
the normal course issuer bid from February 1, 2010 to January 18, 2011
was 322,700 with a weighted average price paid per unit of $5.08627.
To view this news release in HTML formatting, please use the following URL: http://www.newswire.ca/en/releases/archive/January2011/21/c4479.html
pAlexis Klein, Investor Relations & Marketing at 416.361.9673 or visit our website at a href="http://www.crownhill.ca" cr="true"www.crownhill.ca/a/p