VANCOUVER, Dec. 20 /CNW/ - Pure Industrial Real Estate Trust ("PIRET")
(TSXV: AAR.UN) today announced the successful closing of its public offering
of 2,150,000 trust units ("Units") priced at $3.80 per Unit for total gross
proceeds of $8,170,000. The offering was sold by a syndicate of agents led by
Dundee Securities Corporation and RBC Dominion Securities Inc., and including
Raymond James Ltd., BMO Nesbitt Burns Inc., Blackmont Capital Inc., Bieber
Securities Inc., Canaccord Capital Corporation, MGI Securities Inc., and Sora
Group Wealth Advisors Inc., and sold to the public pursuant to a short form
final prospectus dated December 12th, 2007.
PIRET has also granted the agents an over-allotment option to purchase up
to an additional 322,500 Units for gross proceeds of $1,225,500 if exercised
in full. This over-allotment option expires 30 days following closing. PIRET
intends to use the net proceeds from the offering for property acquisitions
and general corporate purposes.
PIRET's Units are listed on the TSX Venture Exchange under the symbol
AAR.UN. For more information on PIRET, visit our website at www.piret.ca.
About Pure Industrial Real Estate Trust (PIRET)
PIRET is an unincorporated, open-ended investment trust established for
the purposes of acquiring, owning and operating a diversified portfolio of
income-producing industrial properties in both primary and secondary markets
across Canada. PIRET focuses exclusively on investing in industrial properties
and is the only publicly traded vehicle in Canada that offers investors
exclusive exposure to Canada's industrial asset class.
Additional information about PIRET is available at www.piret.ca or
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR THE ACCURACY OF THIS RELEASE.
For further information:
For further information: Darren Latoski, Acting Chief Executive Officer,
Andrew Greig, Director of Investor Relations, Pure Industrial Real Estate
Trust (PIRET), Suite 910, 925 West Georgia Street, Vancouver, BC, V6C 3L2,
Phone: (604) 681-5959 or (888) 681-5959, E-mail: email@example.com,