PURE INDUSTRIAL REAL ESTATE TRUST ANNOUNCES CLOSING OF $59.9 MILLION BOUGHT DEAL
17 Maggio 2011 - 3:49PM
PR Newswire (Canada)
VANCOUVER, May 17 /CNW/ -- /NOT FOR DISTRIBUTION TO UNITED STATES
NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES./
VANCOUVER, May 17 /CNW/ - Pure Industrial Real Estate Trust
("PIRET") (TSXV: AAR.UN) today announced the closing of its
previously announced public offering (the "Offering") of 14,605,000
trust units ("Units") (inclusive of 1,905,000 Units issued pursuant
to the exercise in full of the over-allotment option), on a bought
deal basis, at a price of $4.10 per Unit for total gross proceeds
of $59,880,500. The Offering was conducted through a syndicate
of underwriters led by Canaccord Genuity Corp. and Dundee
Securities Corporation, as co-lead underwriters, and including RBC
Dominion Securities Inc., National Bank Financial Inc., CIBC World
Markets Inc., HSBC Securities (Canada) Inc., Raymond James Ltd.,
GMP Securities L.P. and Macquarie Capital Markets Canada Ltd. (the
"Underwriters"). PIRET intends to use the net proceeds from the
Offering and the over-allotment option to fund acquisitions and
repay debt and for general working capital purposes. PIRET's units
are listed on the TSX Venture Exchange under the symbol AAR.UN. For
more information on PIRET, visit our website at www.piret.ca. About
Pure Industrial Real Estate Trust (PIRET) PIRET is an
unincorporated, open-ended investment trust established for the
purposes of acquiring, owning and operating a diversified portfolio
of income-producing industrial properties in primary markets across
Canada. PIRET focuses exclusively on investing in industrial
properties and is the only publicly traded vehicle in Canada that
offers investors exclusive exposure to Canada's industrial asset
class. About the 2011 TSX Venture 50 The 2011 TSX Venture 50 is
comprised of ten companies from each of five sectors: Clean
Technology, Mining, Oil & Gas, Diversified Industries, and
Technology & Life Sciences. The 2011 TSX Venture 50 companies
were chosen based on the following criteria, with equal weighting
assigned to each: share price appreciation, trading volume, market
capitalization growth and analyst coverage. PIRET was selected to
the 2011 TSX Venture 50 in the Diversified Industries category.
Forward-Looking Information: Certain statements contained in this
press release may constitute forward-looking statements.
Forward-looking statements are often, but not always, identified by
the use of words such as "anticipate", "plan", "expect", "may",
"will", "intend", "should", and similar expressions. These
statements involve known and unknown risks, uncertainties and other
factors that may cause actual results or events to differ
materially from those anticipated in such forward-looking
statements. Forward looking statements in this news release include
that PIRET intends to use the net proceeds from the Offering and
the over-allotment option to fund acquisitions and repay debt and
for general working capital purpose. The forward-looking statements
contained in this news release are based on certain key
expectations and assumptions made by PIRET, including: expectations
and assumptions concerning receipt of required regulatory approvals
and the satisfaction of other conditions to the completion of the
property acquistions. Although PIRET believes that the expectations
and assumptions on which the forward-looking statements are based
are reasonable, undue reliance should not be placed on the
forward-looking statements because PIRET can give no assurance that
they will prove to be correct. Since forward-looking statements
address future events and conditions, by their very nature they
involve inherent risks and uncertainties. Actual results could
differ materially from those currently anticipated due to a number
of factors and risks. These include, but are not limited to, the
failure to obtain necessary regulatory approvals or satisfy the
conditions to closing the property acquisitions, competitive
factors in the industries in which PIRET operates, prevailing
economic conditions, and other factors, many of which are beyond
the control of the PIRET. The forward-looking statements contained
in this press release represent PIRET's expectations as of the date
hereof, and are subject to change after such date. PIRET disclaims
any intention or obligation to update or revise any forward-looking
statements whether as a result of new information, future events or
otherwise, except as required under applicable securities
regulations. NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION
SERVICES PROVIDER (as that term is defined in the policies of the
TSX Venture Exchange) HAS REVIEWED OR ACCEPTS RESPONSIBILITY FOR
THE ADEQUACY OR THE ACCURACY OF THIS RELEASE. NOT FOR DISTRIBUTION
TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES. To view this news release in HTML formatting,
please use the following URL:
http://www.newswire.ca/en/releases/archive/May2011/17/c5217.html
table tr valign="top" td align="left" Andrew Greig,br/ Director of
Investor Relationsbr/ /td /tr /table p bPure Industrial Real
Estate Trust (PIRET)/bbr/ Suite 910, 925 West Georgia Streetbr/
Vancouver, BC V6C 3L2br/ Phone: (604) 681-5959 or (888)
681-5959br/ E-mail: a
href="mailto:agreig@piret.ca"agreig@piret.ca/abr/ a
href="http://www.piret.ca/"www.piret.ca /abr/ br/ TSX Venture
Exchange - AAR.UN /p
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