/NOT FOR DISTRIBUTION TO THE UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED
STATES/
MONTRÉAL, Jan. 23,
2025 /CNW/ - BTB Real Estate Investment Trust
(TSX: BTB.UN) ("BTB" or the "REIT") announces today
that it has successfully closed its previously announced bought
deal public offering1 and the concurrent closing,
pursuant to the full exercise of the over-allotment option granted
to the underwriters, of an additional $5.25
million aggregate principal amount of Series I 7.25%
convertible unsecured subordinated debentures due February 28, 2030 (the "Series I
Debentures"). Including the exercise of the over-allotment
option, BTB received gross proceeds of approximately $40.25 million.
The Series I Debentures will be traded on the Toronto Stock
Exchange under the symbol BTB.DB.I.
On January 23, 2025, BTB filed a
notice of redemption for all outstanding Series H 7.00% convertible
unsecured debentures due October 31,
2025 ("Series H Debentures"), which will be redeemed
on February 24, 2025, from the net
proceeds of the offering of the Series I Debentures.
This press release is for information purposes only and does not
constitute an offer to sell securities, nor is it a solicitation of
an offer to buy securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful. This news release does not
constitute an offer of securities for sale in the United States and the securities referred
to in this news release may not be offered or sold in the United States absent a registration or an
exemption from registration. No securities regulatory authority has
either approved or disapproved of the contents of this news
release.
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1 Please
refer to the press releases published on January 14th
and 15th, 2025.
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About BTB
BTB is a real estate investment trust listed on the TSX. BTB
REIT invests in industrial, suburban office and necessity-based
retail properties across Canada
for the benefit of their investors. As of today, BTB owns and
manages 75 properties, representing a total leasable area of
approximately 6.1 million square feet.
For more detailed information, visit BTB's website at
www.btbreit.com.
Forward-Looking Statements
This news release contains forward-looking statements within the
meaning of applicable securities legislation. Forward-looking
statements are based on a number of assumptions and is subject to a
number of risks and uncertainties, many of which are beyond BTB's
control, that could cause actual results and events to differ
materially from those that are disclosed in or implied by such
forward-looking statements.
Forward-looking statements contained in this press release
include, without limitation, statements pertaining to the closing
of the Offering and the use of the net proceeds of the Offering.
The forward-looking statements contained in this news release are
expressly qualified in their entirety by this cautionary statement.
All forward-looking statements in this news release are made as of
the date of this news release. BTB does not undertake to update any
such forward-looking information whether as a result of new
information, future events.
Forward-looking statements are necessarily based on a number of
estimates and assumptions that, while considered reasonable by
management as of the date hereof, are inherently subject to
significant business, economic and competitive uncertainties and
contingencies. When relying on forward-looking statements to make
decisions, the REIT cautions readers not to place undue reliance on
these statements, as forward-looking statements involve significant
risks and uncertainties and should not be read as guarantees of
future performance or results, and will not necessarily be accurate
indications of whether or not the times at or by which such
performance or results will be achieved. A number of factors could
cause actual results to differ, possibly materially, from the
results discussed in the forward-looking statements.
Additional information about these assumptions and risks and
uncertainties is contained in the filings of the REIT with
securities regulators, including under "Risk Factors" in the REIT's
latest annual information form, which is available on SEDAR+ at
www.sedarplus.com.
Neither the TSX nor its Regulation Services Provider (as that
term is defined in the policies of the TSX) accepts responsibility
for the adequacy of this release.
SOURCE BTB Real Estate Investment Trust
