Course Issuer Bid
(For Immediate Release)
June 21, 2002
Toronto, Ontario : Pro-AMS U.S. Trust (TSX: PAM) (the ³Trust²) announced
today that the Toronto Stock Exchange has accepted the Trustıs Notice
of Intention to make a normal course issuer bid. The Trust will have the
right to purchase under the bid up to a maximum of 2,158,330 units (representing
approximately 10% of the Trustıs public float) commencing June 26, 2002.
There are currently 21,595,309 units of the Trust issued and outstanding.
Purchases made pursuant to the normal course issuer bid will be made in
the open market through the facilities of the Toronto Stock Exchange.
The normal course issuer bid will remain in effect until the earlier of
June 25, 2003, the termination of the bid by the Trust or the Trust purchasing
the maximum number of units permitted under the bid. Units purchased by
the Trust pursuant to the issuer bid will be cancelled.
Management and directors
of the manager of the Trust, Mulvihill Fund Services Inc., believe that
units of the Trust may become available during the proposed purchase period
at prices which would make such purchases in the best interests of the
For further information,
John Mulvihill or David Middleton
Mulvihill Fund Services Inc.
121 King Street West, Suite 2600
Toronto, Ontario M5H 3T9
(416) 681-3966 (800) 725-7172