MONTREAL, Sept. 12, 2011 /CNW Telbec/ - Homburg Canada Real Estate
Investment Trust (TSX: HCR.UN) (the "REIT") said today that the REIT is
a fully independent entity, both operationally and financially, and is
not part of the Homburg Invest Inc. application under the Company
Creditors Arrangement Act.
"Homburg Canada REIT continues to follow its own strategy, which has
been very successful during our first fifteen months as a publicly
traded entity," said Jim Beckerleg, President and Chief Executive
Officer. "We are a strong, operationally and financially independent
real estate investment trust that continues to create substantial value
for our unitholders."
Homburg Canada REIT is governed by its own board of trustees, the
majority of whom are independent. The non-executive chairman of the
Board is Karen A. Prentice, of Calgary, Alberta.
Upon the successful closing of the recently announced bought-deal
offering expected to be on September 13th, Homburg Invest's ownership of REIT Units will fall to approximately 16
percent. At this level of ownership, Homburg Invest will have the
right to appoint one trustee at the next annual meeting of Unitholders,
as set out in the Declaration of Trust.
"It is business as usual at the REIT," added Mr. Beckerleg, "and we are
currently considering a re-branding that will reflect our unique and
independent position. We will keep all stakeholders informed."
S&P/TSX Small Cap Index
Homburg Canada REIT is also pleased to note that Units of the REIT will
be added to the S&P/TSX Small Cap Index, effective at the close of
business September 16, 2011.
About Homburg Canada Real Estate Investment Trust
Homburg Canada Real Estate Investment Trust is an unincorporated
open-ended real estate investment trust established pursuant to a
declaration of trust under the laws of the Province of Quebec. Managed
internally, the REIT owns a portfolio of Canadian income-producing
commercial properties, consisting mainly of retail and office
properties with certain industrial properties, as well as certain
income-producing multi-family residential properties. The properties
comprise approximately 8.0 million square feet of commercial gross
leasable area and 1,725 multi-family residential units located in
Quebec, Atlantic Canada, Western Canada and Ontario.
This news release may contain forward-looking information within the
meaning of applicable securities legislation. Forward-looking
information is based on a number of assumptions and is subject to a
number of risks and uncertainties, many of which are beyond the REIT's
control that could cause actual results and events to differ materially
from those that are disclosed in or implied by such forward-looking
information. Such risks and uncertainties include, but are not limited
to, the factors discussed under "Risk Factors" in the REIT's latest
annual information form.
The forward-looking statements contained in this news release are
expressly qualified in their entirety by this cautionary statement. All
forward-looking statements in this press release are made as of the
date of this press release. The REIT, except as required by applicable
securities legislation, does not undertake to update any such
forward-looking information whether as a result of new information,
future events or otherwise. Additional information about these
assumptions and risks and uncertainties is contained in the REIT's
filings with securities regulatory authorities, including its latest
annual information form, which are available on SEDAR at www.sedar.com.
SOURCE Homburg Canada Real Estate Investment Trust
For further information:
FOR FURTHER INFORMATION, PLEASE CONTACT:
| Investors: |
| James W. Beckerleg |
President and Chief Executive Officer
Homburg Canada REIT
514-931-2591, ext. 358
| Gordon G. Lawlor, CA |
Executive Vice President, Chief Financial Officer and Secretary
Homburg Canada REIT
514-931-2591, ext. 313
| Media: |
| Mélanie Tardif |
NATIONAL Public Relations