/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES/
FREDERICTON, Sept. 27, 2011 /CNW/ - Plazacorp Retail Properties Ltd.
("Plazacorp" or the "Company") (TSXV: PLZ) announced today that it has
closed its previously announced bought deal public equity offering of
6,600,000 common shares at a price of $4.20 per common share to a
syndicate of underwriters led by RBC Capital Markets. The gross
proceeds from the offering are $27,720,000.
Plazacorp has granted the Underwriters an over-allotment option (the
"Over-Allotment Option"), exercisable in whole or in part up to 30 days
after Closing, to purchase from treasury up to an additional 990,000
common shares at the same offering price to cover over-allotments, if
any. If the Over-Allotment Option is exercised in full, the gross
proceeds of the offering will total approximately $31,878,000.
Plazacorp acquires, develops and redevelops unenclosed and enclosed
retail real estate throughout Atlantic Canada, Quebec and Ontario,
which are predominantly occupied by national tenants (approximately 90%
of the total). The Company's portfolio at June 30, 2011 includes
interests in 112 properties totaling over 5.1 million square feet and
additional lands held for development. These include properties
directly held by Plazacorp, its subsidiaries and through joint
CAUTIONARY STATEMENTS REGARDING FORWARD-LOOKING STATEMENTS
All statements in this press release that do not relate to historical
facts constitute forward-looking statements. These statements
represent Plazacorp's intentions, plans, expectations and beliefs and
are subject to certain risks and uncertainties that could result in
actual results differing materially from these forward-looking
statements. These risks and uncertainties are more fully described in
regulatory filings that can be obtained on SEDAR at www.sedar.com.
Neither 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 PLAZACORP RETAIL PROPERTIES LTD.
For further information:
Visit our website at: www.plaza.ca
Or contact: Michael Zakuta at (514) 457-0997 or Floriana Cipollone at (416) 848-4583