Pure Industrial Real Estate Trust Announces Closing of $34.776 Million Bought Deal
25 Gennaio 2012 - 8:43AM
PR Newswire (Canada)
/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES./ VANCOUVER, Jan. 26, 2012 /CNW/
- Pure Industrial Real Estate Trust ("PIRET") today announced the
closing of its previously announced public offering (the
"Offering") of 8,280,000 trust units ("Units") (inclusive of
1,080,000 Units issued pursuant to the exercise in full of the
over-allotment option), on a bought deal basis, at a price of $4.20
per Unit for total gross proceeds of $34,776,000. The
Offering was conducted through a syndicate of underwriters led by
Canaccord Genuity Corp. and Dundee Securities Ltd., as co-lead
underwriters, and including RBC Dominion Securities Inc., CIBC
World Markets Inc., National Bank Financial Inc., Raymond James
Ltd., HSBC Securities (Canada) Inc., GMP Securities L.P., Macquarie
Capital Markets Canada Ltd., Sora Group Wealth Advisors Inc., and
Union Securities Ltd. 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. PIRET now has 58,703,903 units issued and
outstanding. 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. TSX Venture Exchange - AAR.UN
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. 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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