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Flagship Communities Real Estate Investment Trust Gets TSX Acceptance for its Normal Course Issuer Bid

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Flagship Communities Real Estate Investment Trust's (MHC-U.TO, MHC-UN.TO) notice to launch a normal course issuer bid was accepted by the Toronto Stock Exchange, it said Wednesday.

The NCIB will allow the REIT to repurchase up to around 1.6 million trust units, representing approximately 10% of the public float, subject to the normal terms and limitations of such bids, it said.

The buyback will begin on Aug. 28, added the REIT.

Any trust units repurchased by the REIT under the NCIB will be cancelled, said Flagship.

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