Partners Real Estate Investment Trust Announces Receipt For (Final) Prospectus
January 31 2012 - 11:22PM
PR Newswire (Canada)
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LAWS./ VANCOUVER, Feb. 1, 2012 /CNW/ - Partners Real Estate
Investment Trust (the "REIT" or "Partners REIT") is pleased to
announce that it has received a receipt for a (final) prospectus
from the securities regulatory authorities in each of the provinces
of Canada, except Quebec, to qualify the distribution (the
"Offering") of 10,753,000 units of the REIT (the "Units") at a
price of $1.86 per Unit representing gross proceeds of
approximately $20 million, on a bought deal basis, to a syndicate
of underwriters (the "Underwriters") co-led by National Bank
Financial Inc. and Canaccord Genuity Corp., and including Scotia
Capital Inc., CIBC World Markets Inc., TD Securities Inc.,
Desjardins Securities Inc., Macquarie Capital Markets Canada Ltd.,
Raymond James Ltd. and GMP Securities L.P. The REIT has granted the
Underwriters an over-allotment option, exercisable in whole or in
part at any time up to 30 days following the closing of the
offering, to purchase up to an additional 1,612,950 Units at the
same offering price. The Offering is expected to close on February
8, 2012 and is subject to certain conditions including, but not
limited to, the receipt of all necessary approvals, including the
approval of the TSX Venture Exchange. This press release shall not
constitute an offer to sell, or the solicitation of an offer to
buy, any securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful. The securities being
offered have not been and will not be registered under the U.S.
Securities Act of 1933 as amended and may not be offered or sold in
the United States absent registration or pursuant to applicable
exemption from registration. About Partners REIT Partners REIT is a
growth-oriented real estate investment trust, which currently owns
(directly or indirectly) twenty-one retail properties located in
British Columbia, Alberta, Manitoba, Ontario and Quebec,
aggregating approximately 1.7 million square feet of leaseable
space. Partners REIT focuses on expanding and managing a portfolio
of retail and mixed-use community and neighbourhood shopping
centres located in both primary and secondary markets across
Canada. Forward-looking Statements Certain statements included in
this press release constitute forward-looking statements,
including, but not limited to, those identified by the expressions
"believe", "expect," "will", "offers the opportunity", "intend,
"look forward" and similar expressions to the extent they relate to
Partners REIT. The forward-looking statements are not historical
facts but reflect Partners REIT's current expectations regarding
future results or events. 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 closing of the Offering, success of the
Offering, listing of the Units, use of proceeds of the Offering,
access to capital, regulatory approvals, our intention to grow and
diversify our portfolio, intended acquisitions, our status as a
"real estate investment trust" and general economic and industry
conditions. Although Partners 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. The
forward-looking statements contained in this press release reflect
our current views with respect to future events and are also
subject to certain other risks and uncertainties and other risks
detailed from time-to-time in Partners REIT's ongoing filings with
the securities regulatory authorities, which filings can be found
at www.sedar.com. Actual results, events, and performance may
differ materially from those contemplated in Partners REIT's
forward-looking statements. Readers are cautioned not to place
undue reliance on these forward-looking statements. Partners REIT
does not undertake any obligation to publicly update or revise any
forward-looking statements either as a result of new information,
future events or otherwise, except as required by applicable
securities laws. Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in policies
of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release. Partners REIT CONTACT:
Partners REIT:Patrick Miniutti, President and Chief Operating
Officer (250) 940-5500
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