/NOT FOR DISTRIBUTION TO
PROPERTY ACQUISITION
The Trust announced today that it has waived conditions on the acquisition of a grocery store property operated under the IGA banner in
BOUGHT DEAL PUBLIC OFFERING OF UNITS
The Trust also announced today that it has entered into an agreement with a syndicate of underwriters co-led by
The Underwriters have also been granted an option (the "Over-Allotment Option"), exercisable in whole or in part, at any time until 30 days after the closing of the Offering, to purchase from the Trust up to 352,000 additional Units, representing 15% of the Units to be issued and sold pursuant to the Offering, at the Offering Price for additional gross proceeds to the Trust of up to approximately
The Offering is expected to close on or about
The Trust intends to use the net proceeds from the Offering to fund announced and future acquisitions, planned development projects, to repay certain indebtedness which may be subsequently redrawn, and for general business and working capital purposes.
Certain trustees of the Trust have indicated an interest in purchasing Units as part of the Offering.
The Units will be offered by way of a short form prospectus to be filed with the securities commissions and other similar regulatory authorities in each of the provinces of
The Units have not been, nor will they be, registered under
About Canadian Net – Canadian Net Real Estate Investment Trust is an open-ended trust that acquires and owns high quality triple net and management-free commercial real estate properties.
Forward-Looking Statements - This press release contains forward-looking information as defined by applicable securities laws. Canadian Net warns the reader that actual events may differ materially from current expectations due to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from the results anticipated in such statements. Among these include the risks that the Offering may not be completed, the risk that Canadian Net may not be able to obtain all necessary regulatory and stock exchange approvals, including the approval of the TSX-V, the risks related to economic conditions, the risks associated with the local real estate market, the dependence to the financial condition of tenants, the uncertainties related to real estate activities, the changes in interest rates, the availability of financing in the form of debt or equity, the effects related to the adoption of new standards, as well as other risks and factors described from time to time in the documents filed by Canadian Net with securities regulators, including the management report. Canadian Net does not intend or undertake to update or modify its forward-looking statements even if future events occur or for any other reason, unless required by law or any regulatory authority.
Neither
SOURCE
© Canada Newswire, source