BOSTON, MA, March 31, 2016 /CNW/ - Plymouth Realty Capital Corp. ("Plymouth") (TSXV: PH.P), a capital pool company, announces today that the TSX Venture Exchange (the "TSXV") has granted Plymouth an extension to May 19, 2016 in which to complete Plymouth's previously announced "Qualifying Transaction" to acquire a mixed-use plaza located in Mississauga, Ontario from Churchill IV Real Estate Limited Partnership. In the event that the proposed acquisition is not completed by May 19th, Plymouth's common shares will then be transferred to NEX (subject to Plymouth having filed the required documentation to effect such transfer prior to that date) unless the TSXV grants a further extension.
Plymouth is currently designated as a Capital Pool Company by the TSXV. The company has not commenced commercial operations and has no assets other than cash. Upon completion of its "Qualifying Transaction", Plymouth intends to carry on the business of investing in income-producing commercial real estate properties located in Canada or the United States and at an appropriate time in the future, intends to carry on such business as a real estate investment trust.
The TSXV has neither approved nor disapproved the contents of this press release. Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Plymouth Realty Capital Corp.
For further information: please contact Jeff Witherell, CEO of Plymouth Realty Capital Corp. at (617) 340-3826.