Pure Industrial Real Estate Trust announces $31.5 million equity financing
11 Febbraio 2012 - 3:47PM
PR Newswire (Canada)
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES VANCOUVER, Feb. 14, 2012 /CNW/ -
Pure Industrial Real Estate Trust ("PIRET") announced today that it
has entered into an agreement to sell to a syndicate of
underwriters led by Canaccord Genuity Corp. and Dundee Securities
Ltd. (the "Underwriters"), on a bought deal basis, 7,000,000 trust
units ("Units") at a price of $4.50 per Unit for gross proceeds to
PIRET of approximately $31.5 million (the "Financing"). PIRET has
also granted the Underwriters an over-allotment option to purchase
up to an additional 1,050,000 Units on the same terms and
conditions, exercisable at any time, in whole or in part, up to 30
days after the closing of the Financing. The Financing is expected
to close on or about March 1, 2012 and is subject to regulatory
approval. The proceeds from the Financing will be used to fund
prospective acquisitions of income producing industrial properties
and for general corporate purposes. Darren Latoski, Co-CEO of
PIRET, said "PIRET has a robust acquisition pipeline and is
continuing to identify high quality, well tenanted industrial
properties across Canada which we can acquire on an accretive
basis. The Canadian industrial real estate sector is continuing to
perform well, and we are excited to continue our 2012 acquisition
campaign as we secure opportunities that will add value to our
existing portfolio." 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. For more information
please contact: Andrew Greig, Director of Investor Relations
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 March
1, 2012. 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: Pure 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.caTSX Venture Exchange - AAR.UN
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