Killam closes $65.4 million bought deal financing



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    HALIFAX, June 19 /CNW/ - Killam Properties Inc. (TSX:KMP) is pleased to
announce that it has closed its previously announced $60 million bought deal
financing. In addition, the underwriters have exercised the over-allotment
option for an additional $5.4 million. Killam has therefore issued and sold
6,380,000 common shares at a price of $10.25 per common share for total gross
proceeds of approximately $65.4 million (the "Offering").
    The Offering was made on a bought deal basis pursuant to an underwriting
agreement with a syndicate of underwriters co-lead by RBC Capital Markets and
Canaccord Adams and including Scotia Capital Inc., BMO Nesbitt Burns Inc., TD
Securities Inc., Desjardins Securities Inc., Blackmont Capital Inc., Genuity
Capital Markets, Beacon Securities Limited, M. Partners Inc. and Trilon
Securities Corporation.
    Killam intends to use the proceeds from this financing for general
purposes, including for funding strategic acquisitions and to repay certain
revolving indebtedness incurred in connection with such acquisitions. Killam
continues to benefit from a robust acquisition pipeline and anticipates making
further announcements in this regard in the near future.
    The shares being issued pursuant to the Offering have not been and will
not be registered under the United States Securities Act of 1933 and state
securities laws. Accordingly, such shares may not be offered or sold to U.S.
persons except pursuant to applicable exemptions from registration.

    Killam Properties Inc. is a leading real estate company based in Halifax,
Nova Scotia. Killam is the largest owner and manager of multi-family
residential rental properties and manufactured home communities in Atlantic
Canada.

    Note: The Toronto Stock Exchange has neither approved or disapproved of
the information contained herein. Certain statements in this report may
constitute forward-looking statements. Such forward- looking statements
involve risks, uncertainties and other factors which may cause actual results,
performance or achievements of Killam to be materially different from any
future results, performance or achievements expressed or implied by such
forward-looking statements. Killam does not undertake to update any of such
forward-looking statements.




For further information:

For further information: Dale Noseworthy, Director, Investor & External
Relations, Killam Properties Inc., (902) 442-0388, Fax: (902) 455-4525,
dnoseworthy@killamproperties.com, www.killamproperties.com

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Killam Properties Inc.

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