Realex Properties Corp. announces closing of equity offering

/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/

TRADING SYMBOL: RLX and RLX.A (TSXV)

CALGARY, April 9 /CNW/ - Realex Properties Corp. ("Realex" or the "Corporation") announces that it has closed its previously announced public offering of 26,995,000 common shares in the capital of the Corporation ("Common Shares") at a price of $0.64 per Common Share for gross proceeds of $17,276,800 (the "Offering").

Realex has granted the Underwriters an option (the "Over-Allotment Option") under which the Underwriters may purchase up to an additional 2,699,500 Common Shares at a price of $0.64 per Common Share. The Over-Allotment Option is exercisable in whole or in part at any time until May 9, 2010.

The Offering was underwritten by a syndicate of underwriters co-led by Desjardins Securities Inc. and Genuity Capital Markets and including TD Securities Inc. (collectively, the "Underwriters"). Realex intends to use the net proceeds of the Offering to repay outstanding indebtedness and thereafter to fund future acquisitions of real estate properties in Canada and for general corporate purposes.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release contains forward looking statements subject to various significant risks and uncertainties which may cause actual results, performances and achievements of Realex to be materially different from any future results, performances or achievements, expressed or implied by such forward looking statements. Realex cannot assure investors that actual results will be consistent with these forward looking statements and Realex assumes no obligation to update or revise them to reflect new events or circumstances.

SOURCE REALEX PROPERTIES CORP.

For further information: For further information: Tom Heslip, President and Chief Executive Officer, Realex Properties Corp., Telephone: (403) 206-3149, Facsimile: (403) 264-5892, Email: tomheslip@realex.org

Organization Profile

REALEX PROPERTIES CORP.

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890