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TORONTO,
May 21, 2014 /CNW/ - NorthWest
International Healthcare Properties Real Estate Investment Trust
(TSXV: MOB.UN) (the "REIT") announced today the closing of its
previously announced offering of 11,219,513 trust units of the REIT
(the "Units"), which includes the exercise in full of an
over-allotment option granted by the REIT to the Underwriters (as
defined below), at a price of $2.05
per Unit for gross proceeds of $23,000,000 (the "Offering"). The Offering was
conducted on a bought deal basis by a syndicate of underwriters
co-led by National Bank Financial Inc. and GMP Securities L.P.,
acting as joint bookrunners, and including BMO Capital Markets,
Canaccord Genuity Corp., Scotia Capital Inc., Dundee Securities
Ltd., Manulife Securities Incorporated, Raymond James Ltd.,
Desjardins Securities Inc., Laurentian Bank Securities Inc. and All
Group Financial Services Inc. (collectively, the
"Underwriters").
The net proceeds from the Offering are expected
to be used to fund future acquisitions (including the proposed
acquisition of the German MOB Portfolio, as defined and detailed in
the REIT's press release dated February 18,
2014), and for general trust and working capital
purposes.
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 the statements regarding the proposed use of the net
proceeds from the Offering and the proposed acquisition of the
German MOB Portfolio. 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 the risk that the net proceeds from the Offering will not
be used as expected, and that the proposed acquisition of the
German MOB Portfolio 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 and, except as expressly required by
applicable law, the REIT assumes no obligation to publicly update
or revise any forward-looking statement, whether as a result of new
information, future events or otherwise. 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 REIT's annual
information form dated April 23, 2014
and audited consolidated financial statements and management's
discussion and analysis for the year ended December 31, 2013, copies of which may be
obtained on the SEDAR website at www.sedar.com.
These securities have not been and will not be
registered under the United States Securities Act of 1933, as
amended (the "U.S. Securities Act"), or any state securities laws
and may not be offered or sold in the
United States or to U.S. persons except in compliance with
the registration requirements of the U.S. Securities Act and
applicable state securities laws or pursuant to an exemption
therefrom. Accordingly, this news release does not constitute an
offer for sale of securities in the
United States.
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