Pure Industrial Real Estate Trust announces increase to previously announced bought deal financing
08 Gennaio 2012 - 7:18AM
PR Newswire (Canada)
/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES/ VANCOUVER, Jan. 11, 2012 /CNW/
- Pure Industrial Real Estate Trust ("PIRET") announced today that
its previously announced offering (the "Financing") of trust units
("Units") has been increased to approximately $30.2 million of
Units at a price of $4.20 per Unit. The offering is being sold on a
bought deal basis to a syndicate of underwriters co-led by
Canaccord Genuity Corp. and Dundee Securities Ltd. Closing is
expected to occur on January 31, 2012, subject to regulatory
approval. PIRET has also granted the underwriters an option,
exercisable at any time until 30 days following the closing of the
offering, to purchase a further 1,080,000 units at the issue price
which, if fully exercised, would result in additional gross
proceeds of $4,536,000. The proceeds from the Financing will be
used to fund the previously announced acquisitions, repay
short-term debt and for general corporate purposes. ********* About
Pure Industrial Real Estate Trust 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. Additional information about PIRET is available at
www.piret.ca or www.sedar.com. TSX Venture Exchange - AAR.UN
Forward-Looking Information: Certain statements contained in this
news 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 the Financing is expected to close on or about January
31, 2012 and that the purchase price of the Acquisitions is
expected to be settled with the proceeds of the Financing. 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 and use of proceeds from the
Financing. 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 Financing,
competitive factors in the industries in which PIRET operates,
prevailing economic conditions, and other factors, many of which
are beyond the control of PIRET. The forward-looking statements
contained in this news 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. Pure Industrial Real Estate
Trust (PIRET) CONTACT: Andrew Greig,Director of Investor
RelationsPure Industrial Real Estate Trust (PIRET)Suite 910, 925
West Georgia StreetVancouver, BC V6C 3L2Phone: (604) 681-5959 or
(888) 681-5959E-mail: agreig@piret.cawww.piret.ca
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