Northwest International Healthcare Properties REIT announces closing of over-allotment option in connection with offering of trust units
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TORONTO, Jan. 14, 2014 /CNW/ - NorthWest International Healthcare Properties Real Estate Investment Trust (TSXV: MOB.UN) (the "REIT") announced today the issuance of an additional 852,070 trust units (the "Over-Allotment Units") of the REIT for additional gross proceeds to the REIT of $1,704,140. The issuance was pursuant to the partial exercise of an over-allotment option (the "Over-Allotment Option") granted to a syndicate of underwriters co-led by GMP Securities L.P. and National Bank Financial Inc., acting as joint bookrunners, and including Canaccord Genuity Corp., Dundee Securities Ltd., Scotiabank, Desjardins Securities Inc. and Manulife Securities Incorporated in connection with the REIT's recent offering of trust units of the REIT (the "Offered Units" and together with the Over-Allotment Units, the "Units"), which closed on December 18, 2013 (the "Offering").
The closing of the Over-Allotment Option increases the total number of Units issued by the REIT in connection with the Offering to 9,852,070, and increases the total gross proceeds to the REIT to $19,704,140.
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 and the Over-Allotment Option. 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. 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.
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 REITFor further information:
Paul Dalla Lana
(416) 366-8300 ext. 1001
(416) 366-8300 ext. 1002