Public market insider buying at Noranda Income Fund (NIF)

Public market insider buying at Noranda Income Fund (T:NIF)

Daniel Lau, a 10% Holder, acquired 300,000 Priority Units on a control or direction basis for registered holder LM Asset Fund Limited Partnership at a price of $1.100 on October 6th, 2022. This represents a $330,000 investment into the company's shares and an account share holdings change of 7.1%.

Noranda Income Fund is in the Specialty Mining & Metals Sub Industry Group under the Basic Materials Sector.

Noranda Income Fund (the Fund) is a Canada-based open-ended income trust. The Fund's objective is to make monthly distributions to Unitholders. The Fund owns the electrolytic zinc processing facility and ancillary assets (the Processing Facility) located in Salaberry-de-Valleyfield, Quebec, approximately 60 kilometers southwest of Montreal, on an 820-acre site situated on the St. Lawrence Seaway. The Processing Facility produces refined zinc metal and various by-products from zinc concentrate produced by mining operations. The Processing Facility produces 268,387 tons of zinc metals. The Processing Facility has produced two types of zinc powders. The powder that is consumed in the alkaline battery market and powder that is used in the production of bleaching agent for the paper industry. The Processing Facility's zinc products are sold for use in the automotive, construction, electronics, steel and the battery industries. Canadian Electrolytic Zinc Limited is the manager of the Fund.