/C O R R E C T I O N From Source -- Partners REIT/
31 December 2010 - 1:08AM
PR Newswire (Canada)
VICTORIA, Dec. 30 /CNW/ -- In c8078 sent at 8:36 ET today, the
headline, "Partners Real Estate Investment Trust Files Final
Prospectus", has been revised to read "Partners Real Estate
Investment Trust Closes Public Offering". Correct copy follows:
Partners Real Estate Investment Trust Closes Public Offering /NOT
FOR DISSEMINATION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN
THE UNITED STATES/ VICTORIA, Dec. 30 /CNW/ - Partners Real Estate
Investment Trust ("Partners REIT" or the "Trust") (TSX-V: PAR.UN)
announced that it has closed its previously announced offering of
4,680,000 units, at a price of $1.60 per unit, for aggregate gross
proceeds of $7,488,000. In connection with the closing of the
offering, the Underwriters (as defined below) also exercised their
option to purchase up to an additional 468,000 units at a price of
$1.60 per unit on the same terms and conditions as the offering.
The aggregate gross proceeds of the offering were $8,236,800 and
the net proceeds to the Trust (before deducting expenses of the
offering) were $7,742,592. TD Securities Inc. and CIBC World
Markets Inc. acted as co-lead managers, along with a syndicate of
co-managers including, National Bank Financial Inc., Scotia Capital
Inc., Canaccord Genuity Corp., Dundee Securities Corporation and
Macquarie Capital Markets Canada Ltd. (collectively, the
"Underwriters"). The net proceeds of the offering will be used to
finance possible future property acquisitions and for general trust
purposes. This news release shall not constitute an offer to sell
or the solicitation of an offer to buy any securities, nor shall
there be any sale of securities in any jurisdiction in which such
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of such jurisdiction.
The securities offered have not been and will not be registered
under the United States Securities Act of 1933, as amended (the
"1933 Act"), and may not be offered or sold within the United
States or to, or for the account or benefit of, U.S. persons,
except in certain transactions exempt from the registration
requirements of the 1933 Act. About Partners REIT Partners REIT is
a growth-oriented real estate investment trust, which currently
owns (directly or indirectly) ten retail properties, well-located
in Ontario and Quebec, aggregating approximately 1.1 million square
feet of leaseable space. Partners REIT focuses on expanding and
managing a portfolio of retail and mixed-use community and
neighbourhood shopping centres located in both primary and
secondary markets across Canada. Forward-looking Statements Certain
statements included in this press release constitute
forward-looking statements, including, but not limited to, those
identified by the expressions "expect," "will" and similar
expressions to the extent they relate to Partners REIT. The
forward-looking statements are not historical facts but reflect
Partners REIT's current expectations regarding future results or
events. 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 use
of proceeds of the offering, access to capital, regulatory
approvals, intended acquisitions and general economic and industry
conditions. Although Partners 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. 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. To view this news release in HTML formatting, please use
the following URL:
http://www.newswire.ca/en/releases/archive/December2010/30/c8094.html
pPatrick Miniutti, President and Chief Operating Officer (250)
595-9328/p
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