Business & Finance
Wed, January 26, 2011Tue, January 25, 2011Mon, January 24, 2011Fri, January 21, 2011Thu, January 20, 2011Wed, January 19, 2011Tue, January 18, 2011Mon, January 17, 2011Fri, January 14, 2011Thu, January 13, 2011Wed, January 12, 2011Tue, January 11, 2011TEMPLE REIT ANNOUNCES PUBLIC OFFERING OF TRUST UNITS
Published in Business and Finance on Wednesday, January 19th 2011 at 13:25 GMT by Market Wire
WINNIPEG, Jan. 19 /CNW/ - Temple Real Estate Investment Trust ("Temple REIT") (TSX-V: TR.UN) announced today that it has filed a preliminary short-form prospectus, dated January 19, 2011 (the "Preliminary Prospectus") relating to the public offering (the "Offering") of a minimum of 2,000,000 and up to a maximum of 4,000,000 trust units (the "Units"). The Offering is being placed on a best efforts basis by a syndicate led by Wellington West Capital Inc., and including HSBC Securities (Canada) Inc, Macquarie Capital Markets Canada Ltd., Raymond James Ltd., Desjardins Securities Inc., Mackie Research Capital Corporation and Stonecap Securities Inc. (collectively the "Agents").
The price of the Units will be determined by Temple REIT and the Agents in the context of the market.
Temple REIT has applied to the TSX Venture Exchange (the "Exchange") to list the additional Units sold pursuant to the offering. Listing is subject to Temple REIT satisfying all requirements of the Exchange.
Temple REIT intends to use the net proceeds of the offering to repay second mortgage debt, to fund the renovation and expansion costs leading up to the re-branding of the Capri Hotel to a Sheraton Hotel & Conference Centre and for general purposes, as more particularly disclosed in the Preliminary Prospectus.
Temple REIT is a real estate investment trust, which is listed on the TSX Venture Exchange under the symbols TR.UN (trust units), TR.DB.A, TR.DB.B and TR.DB.S (convertible debentures). The objective of TREIT is to provide Unitholders with stable cash distributions from investment in a geographically diversified Western Canadian portfolio of hotel properties and related assets. For further information on TREIT, please visit our website at [ www.treit.ca ].
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of the contents of this News Release.
