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Tricon Capital launches normal course issuer bid for up to 2.7 million shares

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Tricon Capital launches normal course issuer bid for up to 2.7 million shares

Tricon Capital Group Inc. gained approval from the Toronto Stock Exchange for a normal course issuer bid to buy up to 2.7 million shares, or about 2%, of its issued and outstanding stock.

During any trading day, the company may acquire up to 66,356 shares on the exchange.

Tricon is using available cash to fund its purchases under the issuer bid, which will run for 12 months from Oct. 6 through Oct. 5, 2018.

Under its normal course issuer bid that ended Oct. 7, 2016, Tricon bought 713,720 common shares at a weighted average price of C$9.75 apiece.