Northwest International Healthcare Properties Real Estate Investment Trust Announces the Exercise and Closing of the Over-Allotment Option Associated with its Recently Completed Equity Offering
/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES./
TORONTO, Jan. 14, 2013 /CNW/ - NorthWest International Healthcare Properties Real Estate Investment Trust (TSXV: MOB.UN) (the "REIT") announced today that pursuant to the underwriting agreement dated December 7, 2012 between the REIT and a syndicate of underwriters led by GMP Securities L.P. and National Bank Financial Inc. and including Scotia Capital Inc., Canaccord Genuity Corp., Desjardins Securities Inc. and Macquarie Capital Markets Canada Ltd. (the "Underwriters"), the Underwriters have exercised their option and completed their purchase of 850,900 additional units of the REIT at a price of $2.00 per unit for an aggregate consideration of $1,701,800. The net proceeds to the REIT from the exercise of the over-allotment option are expected to be used for advancing the REIT's international healthcare real estate strategy, potential future acquisitions and ongoing operating and working capital requirements.
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. Including its investment in Vital Healthcare Property Trust (NZX: VHP), the REIT holds interests in a portfolio of 32 income-producing properties, with a focus on internationally-located medical office buildings and healthcare real estate, comprising approximately 1.8 million square feet of gross leasable area located in Australia / New Zealand, Brazil and Germany.
Forward Looking Information
Certain statements contained in this news release may contain projections and "forward looking statements" within the meaning of that phrase under Canadian securities laws. When used in this new release, the words "may", "would", "should", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions may be used to identify forward looking statements. Those statements reflect the REIT's current views with respect to future events or conditions, including the proposed use of proceeds. By their nature, forward looking statements reflect management's current views, beliefs and assumptions and are subject to certain risks and uncertainties, known and unknown, including, without limitation, risks disclosed in the short-form prospectus of the REIT dated December 7, 2012 and in the REIT's other public filings. Many factors could cause actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by these forward looking statements. The REIT does not intend to nor assume any obligation to update these forward-looking statements whether as a result of new information, plans, events or otherwise, unless required by law.
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 Real Estate Investment TrustFor further information:
Paul Dalla Lana
CEO, NorthWest International Healthcare Properties REIT
(416) 366-8300 ext. 1001