EARLY WARNING NEWS RELEASE PURSUANT TO SECTION 102.1 OF THE SECURITIES ACT (ONTARIO) AND NATIONAL INSTRUMENT 62-103
TORONTO, Sept. 17, 2014 /CNW/ - Further to disclosure requirements of applicable securities laws, Mitchell Goldhar ("Goldhar") announces that since the last early warning report dated August 7, 2014, he has acquired, directly or indirectly through controlled affiliates, beneficial ownership of, or control over (i) 996,000 RMM Class B LP Units of the Retrocom Real Estate Investment Trust (the "REIT"); and (ii) an equal number of associated non-participating special voting units of the REIT (the "Special Voting Units"), pursuant to a private placement in the context of a previously disclosed purchase and sale transaction completed in September 2014 (collectively, the "Issuance").
After giving effect to the Issuance, Goldhar will, directly or indirectly, have beneficial ownership of, or control over (i) 10,984,278 Special Voting Units, representing approximately 100% of the REIT's issued and outstanding Special Voting Units, which, together with his beneficial ownership of, or control over, 4,454,700 Units, represents an approximate 17.98% voting interest in the REIT; and (ii) 4,454,700 Units, which, together with his beneficial ownership of, or control over, 10,984,278 securities that are exchangeable on a one-for-one basis for Units, represents an approximate 17.98% equity interest in the REIT. The Issuance represents approximately 9.07% of the REIT's issued and outstanding Special Voting Units, approximately 1.16% of the REIT's issued and outstanding voting interests and approximately 1.16% of the REIT's issued and outstanding equity interests.
The transactions were, and will be, effected by Goldhar, together with entities controlled by, or acting jointly or in concert with Goldhar, for investment purposes. Other than private transactions with the REIT as contemplated from time-to-time, Goldhar has no present intention of acquiring any additional Special Voting Units, Units or securities convertible or exchangeable into securities of the REIT, other than as described above. However, Goldhar reserves the right, depending on the circumstances, including market conditions, to make further purchases, or disposals, of Special Voting Units, Units or securities convertible or exchangeable into securities of the REIT in the future.
This news release is being issued as required by National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues. Further information (including a copy of the early warning report to be filed on SEDAR) can be obtained at www.sedar.com under the REIT's company profile or by contacting Joseph Amato of SmartCentres at 905-760-6200.
SOURCE: Mitchell Goldhar, President and CEO of Smartcentres
For further information: Joseph Amato of SmartCentres at 905-760-6200.