/NOT FOR DISSEMINATION IN THE UNITED STATES OR DISTRIBUTION THROUGH UNITED STATES NEWS OR WIRE SERVICES./
HALIFAX, June 24 /CNW/ - Homburg Invest Inc. ("HII") (TSX: HII.A & HII.B and NYSE Euronext Amsterdam: HII), announced today that pursuant to the underwriting agreement dated May 14, 2010 between HII, Homburg Canada Real Estate Investment Trust ("HCR"), Homburg Canada REIT Limited Partnership, Homburg Canada Incorporated and a syndicate of underwriters led by TD Securities Inc. (the "Underwriters"), the Underwriters have partially exercised their over-allotment option to purchase 1,628,900 additional units of HCR ("Units") at a price of $10.00 per Unit, of which 977,340 Units are to be sold by Homco Realty Fund (199) Limited Partnership, a subsidiary of HII (which acted as a promoter of HCR), as a secondary offering of a portion of the Units it holds for an aggregate gross consideration of $9,773,400 to HII. The net proceeds to HII from the exercise of the over-allotment option will be used by HII for debt repayment and debt servicing, and also for general corporate purposes. The closing of the purchase and sale of Units pursuant to the over-allotment option will be completed on June 29, 2010.
Following closing, HII will own 41.3% of the outstanding Units and Homburg Canada Incorporated will own 7.9% of the outstanding Units. The remaining 50.8% of the outstanding Units will be owned by the public.
The Units have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States without registration or an applicable exemption from the registration requirements of that Act. This news release does not constitute an offer for sale of these securities in the United States of America or in the European Economic Area.
About Homburg Invest Inc.
Homburg Invest Inc. owns and develops a diversified portfolio of quality real estate including office, retail, industrial and residential apartment and townhouse properties throughout Canada, the United States and Europe. Its head office is located in Halifax, Nova Scotia.
This press release contains forward-looking statements which reflect HII's current expectations regarding future events. The 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. HII disclaims any obligation to update these forward-looking statements, except as required by law.
SOURCE Homburg Invest Inc.
For further information: For further information: Mr. Richard Homburg, Chairman and CEO, Homburg Invest Inc., (902) 468-3395; J. Richard Stolle, President and COO, Homburg Invest Inc., 31-20-573-3855; Paul de la Plante, NATIONAL Public Relations, (514) 843-2332