True North Commercial REIT announces filing of preliminary short form base shelf prospectus

/NOT FOR DISTRIBUTION IN THE U.S. OR OVER U.S. NEWSWIRES/

TORONTO, Dec. 6, 2013 /CNW/ - True North Commercial Real Estate Investment Trust (TSX: TNT.UN) (the "REIT") is pleased to announce it has filed a preliminary short form base shelf prospectus (the "Prospectus") with the securities commissions in each of the provinces and territories of Canada. Pursuant to the Prospectus, the REIT may issue trust units, unsecured debt securities, subscription receipts, warrants, or any combination of such securities as units (collectively, the "Securities"), in amounts, at prices, and on terms based on market conditions at the time of sale and set forth in an accompanying prospectus supplement, for an aggregate offering amount of up to $200 million, during the 25 month period the final short form base shelf prospectus remains valid. The REIT will use net proceeds from the sale of any Securities as specified in subsequent prospectus supplements, including general trust purposes, repayment of indebtedness and/or the financing of future growth opportunities, including acquisitions and capital expenditures.

The REIT has filed the Prospectus to maintain financial flexibility and to have the ability to offer the Securities on an accelerated basis pursuant to the filing of prospectus supplements. The filing of the final short form base shelf prospectus will position the REIT to be able to react quickly to market opportunities to raise additional financing. There is no certainty any Securities will be offered or sold under the final short form base shelf prospectus within the 25 month period.

Forward-looking Information

Certain statements contained in this press release constitute forward-looking information within the meaning of Canadian securities laws. Forward-looking information is provided for the purposes of presenting information about management's current expectations and plans relating to the future and readers are cautioned that such information may not be appropriate for other purposes. Forward-looking information may relate to the REIT's future outlook and anticipated events, including the number and type of Securities that may be sold under the Prospectus, and may include statements regarding the financial position, business strategy, budgets, litigation, projected costs, capital expenditures, financial results, taxes and plans and objectives of or involving the REIT. Particularly, statements regarding future results, performance, achievements, prospects or opportunities for the REIT or the real estate industry are forward-looking information. In some cases, forward-looking information can be identified by terms such as "may", "might", "will", "could", "should", "would", "occur", "expect", "plan", "anticipate", "believe", "intend", "seek", "aim", "estimate", "target", "project", "predict", "forecast", "potential", "continue", "likely", "schedule", or the negative thereof or other similar expressions concerning matters that are not historical facts.

Forward-looking information necessarily involves known and unknown risks and uncertainties, which may be general or specific, and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. A variety of factors, many of which are beyond the REIT's control, affect the operations, performance and results of the REIT and its business, and could cause actual results to differ materially from current expectations of estimated or anticipated events or results. These factors include, but are not limited to, the risks related to the offering of Securities pursuant to the Prospectus, the REIT's use of its normal course issuer bid, and the risks discussed in the REIT's materials filed with Canadian securities regulatory authorities from time to time on www.sedar.com. The reader is cautioned to consider these and other factors, uncertainties and potential events carefully and not to put undue reliance on forward-looking information as there can be no assurance that actual results will be consistent with such forward-looking information.

Forward-looking information is based upon certain material assumptions that were applied in drawing a conclusion or making a forecast or projection, including management's perceptions of historical trends, current conditions and expected future developments, as well as other considerations that are believed to be appropriate in the circumstances, including the following: that its trust units will from time to time trade below their intrinsic value; that the Canadian economy will remain stable over the next 12 months; that inflation will remain relatively low; that interest rates will remain stable; that conditions within the real estate market, including competition for acquisitions, will be consistent with the current climate; that the Canadian capital markets will continue to provide the REIT with access to equity and/or debt at reasonable rates when required; that Starlight Investments Ltd. will continue its involvement as asset manager of the REIT in accordance with its current asset management agreement; and the risks identified or referenced above collectively, will not have a material impact on the REIT. While management considers these assumptions to be reasonable based on currently available information, they may prove to be incorrect.

The forward-looking information in this press release is dated, and relates only to events or information, as of the date of this press release. Except as specifically required by law, the REIT undertakes no obligation to update or revise publicly any forward-looking information, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.

About the REIT

The REIT is an unincorporated, open-ended real estate investment trust established under the laws of the Province of Ontario. The REIT is focused on acquiring and operating commercial rental properties across Canada and such other jurisdictions where opportunities exist.

Additional information concerning the REIT is available at www.sedar.com or the REIT's website at www.truenorthreit.com.

SOURCE True North Commercial Real Estate Investment Trust

For further information:


Daniel Drimmer
Chief Executive Officer
(416) 234-8444

or

Tracy Sherren
Chief Financial Officer
(416) 234-8444