Business & Finance
Wed, February 16, 2011Tue, February 15, 2011Mon, February 14, 2011Sun, February 13, 2011Sat, February 12, 2011Fri, February 11, 2011Thu, February 10, 2011Wed, February 9, 2011Tue, February 8, 2011Mon, February 7, 2011TEMPLE REIT ANNOUNCES CLOSING OF $20 MILLION PUBLIC OFFERING OF TRUST UNITS
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Published in Business and Finance on Friday, February 11th 2011 at 6:25 GMT by Market Wire🞛 This publication is a summary or evaluation of another publication
WINNIPEG, Feb. 11 /CNW/ - Temple Real Estate Investment Trust ("Temple REIT") (TSX-V: TR.UN) announced today that it has closed its previously announced public offering (the "Offering") of a minimum of 2,000,000 and up to a maximum of 5,000,000 trust units (the "Units"). At the closing, Temple REIT issued 5,000,000 Units at a price of $4.00 per Unit for aggregate gross proceeds of $20,000,000.
The Offering was completed on a best efforts basis by a syndicate of investment dealers 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 TSX Venture Exchange (the "Exchange") has conditionally approved the listing of the 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 final prospectus with respect to the Offering.
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.
