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Canadian REIT's normal course issuer bid renewed

The Toronto Stock Exchange renewed Canadian REIT's normal course issuer bid, allowing the company to buy up to 3,666,305 of its outstanding trust units.

The bid represent 5% of the company's 73,326,118 issued and outstanding units as of July 31. The company will commence the normal course issuer bid Aug. 15 and it will expire Aug. 14, 2018.

Under its previous normal course issuer bid, which commenced Aug. 15, 2016, and expired August 14, the REIT had approval to repurchase up to 3,658,373 units, of which the company purchased 78,101 units for its long-term incentive plan at a volume-weighted average purchase price of C$49.52 per unit.