/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES
OR DISSEMINATION IN THE UNITED
STATES./
TORONTO, Sept. 23, 2014 /CNW/ - NorthWest
International Healthcare Properties Real Estate Investment Trust
(TSXV:MOB.UN) (the "REIT") announced today the closing of its
previously announced offering (the "Offering") of $35.0 million aggregate principal amount of 7.25%
convertible unsecured subordinated debentures (the "Debentures"),
on a bought deal basis, to a syndicate of underwriters (the
"Underwriters") led by National Bank Financial Inc. and GMP
Securities L.P., acting as joint bookrunners, and including BMO
Capital Markets, Canaccord Genuity Corp., Scotiabank, Dundee
Securities Ltd., Raymond James Ltd., Manulife Securities Inc.,
Desjardins Securities Inc., Laurentian Bank Securities Inc., Mackie
Research Capital Corporation and All Group Financial Services Inc.
The Debentures are expected to commence trading on the TSX Venture
Exchange on Wednesday, September 24,
2014 under the trading symbol "MOB.DB.B".
The REIT has granted the Underwriters an over-allotment option
exercisable at any time up to the date that is 30 days from the
date of closing of the Offering to offer for sale up to an
additional $5.25 million aggregate
principal amount of Debentures on the same terms and
conditions.
The REIT will use the net proceeds of the Offering for repayment
of debt and for general trust purposes. Any debt repayment is
expected to extend the weighted average maturity of the REIT's
existing debt and be accretive.
About NorthWest International Healthcare Properties Real
Estate Investment Trust
The REIT is an unincorporated, open-ended real estate investment
trust established under the laws of the Province of Ontario. The REIT's objectives are to: (i)
provide its unitholders with stable and growing cash distributions
from investments focused on international healthcare properties, on
a tax efficient basis; (ii) enhance the value of the REIT's assets
and maximize long-term unit value; and (iii) expand the asset base
of the REIT.
Reader Advisory
This news release contains "forward-looking statements"
within the meaning of applicable securities laws, including
statements about the Offering and proposed use of proceeds thereof.
These forward-looking statements are subject to a number of risks
and uncertainties that could cause actual results or events to
differ materially from current expectations, including the ability
of the REIT to pay or grow distributions. The statements in this
news release are made as of the date of this release. Although the
REIT believes that the assumptions inherent in the forward-looking
statements are reasonable, forward-looking statements are not
guarantees of future performance and, accordingly, readers are
cautioned not to place undue reliance on such statements due to the
inherent uncertainty therein. A discussion of the risk factors
applicable to the REIT is contained under the heading "Risk
Factors" in the REIT's annual information form dated April 23, 2014 audited consolidated financial
statements and management's discussion and analysis for the year
ended December 31, 2013, and the
REIT's short form prospectus dated May 13,
2014, copies of which each may be obtained on the SEDAR
website at www.sedar.com.
These securities have not been and will not be registered
under the United States Securities Act of 1933, as amended (the
"U.S. Securities Act"), or any state securities laws and may not be
offered or sold in the United
States or to U.S. persons except in compliance with the
registration requirements of the U.S. Securities Act and applicable
state securities laws or pursuant to an exemption therefrom.
Accordingly, this news release does not constitute an offer for
sale of securities in the United
States.
Neither the TSX Venture Exchange Inc. nor its Regulation
Services Provider (as that term is defined in policies of the TSX
Venture Exchange) has approved or disapproved the contents of this
press release.
SOURCE NorthWest International Healthcare Properties REIT