08:10 AM EDT, 05/30/2024 (MT Newswires) -- Chemtrade Logistics Income Fund (CHE-UN.TO) said Thursday that it has received approval from the Toronto Stock Exchange for its normal course issuer bid.

Under the bid, Chemtrade will buy up to 11.7 million of its units, reflecting about 10% of Chemtrade's public float as of May 28.

The NCIB will commence on June 3, 2024, and will terminate on June 2, 2025, or such earlier date that Chemtrade completes purchases. The price that Chemtrade will pay for any units acquired by it will be the market price of the units on the TSX and/or alternative Canadian trading systems at the time of acquisition or such other price as may be permitted by the TSX.

Chemtrade has entered into an automatic purchase plan with its designated broker concerning the bid.