/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR
DISSEMINATION IN THE UNITED
STATES./
TORONTO, Dec. 13, 2013 /CNW/ - NorthWest International
Healthcare Properties Real Estate Investment Trust (TSXV: MOB.UN)
(the "REIT") announced today that it has filed and received a
receipt for a final short form prospectus in each of the provinces
and territories in Canada with
respect to an offering of 9,000,000 units of the REIT at a price of
$2.00 per unit for aggregate gross
proceeds of $18,000,000 (the
"Offering"). The Offering is being conducted pursuant to the terms
of an underwriting agreement dated December
12, 2013 between the REIT and a syndicate of underwriters
co-led by GMP Securities L.P. and National Bank Financial Inc. and
including Canaccord Genuity Corp., Dundee Securities Ltd., Scotia
Capital Inc., Desjardins Securities Inc. and Manulife Securities
Incorporated (collectively, the "Underwriters"). Additionally, the
REIT has granted to the Underwriters an option to purchase up to
that number of additional units equal to 15% of the number of units
sold at the closing of the Offering to cover over-allotments, if
any, and for market stabilization purposes.
The net proceeds from the Offering are expected
to be used to fund future acquisitions (including a portion of the
purchase price for the Rede D'Or Hospital Portfolio Acquisition, as
defined and detailed in the REIT's press release dated September 30, 2013), for repayment of debt and
for general trust and working capital purposes.
As previously disclosed, the REIT has announced
that it will increase the amount of the monthly distribution
payable to unitholders following completion of the Offering and the
Rede D'Or Hospital Portfolio Acquisition from $0.0133 per unit ($0.16 per unit annualized) to $0.0183 per unit ($0.22 per unit annualized). The increased
distribution will take effect on the first day of the month
following completion of the Offering and the Rede D'Or Acquisition.
For clarity, the proposed increase in the REIT's monthly
distribution will not be effected if the Offering is not
completed.
The securities being offered have not been, nor
will they be, registered under the United
States Securities Act of 1933, as amended, and may
not be offered or sold in the United
States or to, or for the account or benefit of, U.S. persons
absent registration or an applicable exemption from the
registration requirements. This press release shall not
constitute an offer to sell or the solicitation of an offer to buy
nor shall there be any sale of the securities in any State in which
such offer, solicitation or sale would be unlawful.
About NorthWest International Healthcare
Properties Real Estate Investment Trust
The REIT is an unincorporated, open-ended real
estate investment trust established under the laws of the Province
of Ontario. The REIT's
objectives are to: (i) provide its unitholders with stable and
growing cash distributions from investments focused on
international healthcare properties, on a tax efficient basis; (ii)
enhance the value of the REIT's assets and maximize long-term unit
value; and (iii) expand the asset base of the REIT.
Forward Looking Information
This news release contains "forward-looking
statements" within the meaning of applicable securities laws,
including statements regarding the Offering, the proposed Rede D'Or
Hospital Portfolio Acquisition and the proposed distribution
increase. 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
risks that the Rede D'Or Hospital Portfolio Acquisition and the
Offering will not be completed on the terms proposed, or at all.
The statements in this news release are made as of the date of this
release. Although the 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. A
discussion of the risk factors applicable to the REIT is contained
under the heading "Risk Factors" in the short-form prospectus of
the REIT dated December 12, 2013, the REIT's annual
information form dated March 11, 2013 and
audited consolidated financial statements and management's
discussion and analysis for the year
ended December 31, 2012, a copy of which may be
obtained on the SEDAR website at www.sedar.com.
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.
SOURCE NorthWest International Healthcare Properties REIT