EARLY WARNING NEWS RELEASE PURSUANT TO SECTION 102.1 OF THE SECURITIES ACT (ONTARIO) AND NATIONAL INSTRUMENT 62-103
TORONTO, May 14, 2014 /CNW/ - Further to disclosure requirements of
applicable securities laws, Mitchell Goldhar announces that he has,
since the last early warning report dated May 7, 2013, acquired,
directly or indirectly through controlled affiliates, beneficial
ownership of voting securities of Retrocom Real Estate Investment Trust
(the "REIT") as follows: (i) 8,694,924 special voting units ("Special Voting Units") pursuant to the terms of the Fifth Amended and Restated Declaration
of Trust of the REIT dated August 1, 2013 (the "Declaration of Trust"), whereby Mr. Goldhar has minimum voting entitlements in specified
circumstances; and (ii) 753,861 Special Voting Units pursuant to
private placements in the context of a previously disclosed purchase
and sale transaction completed in August 2013 (collectively, the "SVU Acquisitions").
After giving effect to the SVU Acquisitions, Mr. Goldhar, directly or
indirectly, has beneficial ownership of, or control over, 18,559,054
Special Voting Units representing approximately 100% of the outstanding
Special Voting Units, which, together with Mr. Goldhar's beneficial
ownership of, or control over, 1,704,700 units of the REIT, represent
an approximate 25% voting interest in the REIT over which Mr. Goldhar
has ownership or control as of the date hereof. The SVU Acquisitions
represent approximately 11.7% the REIT's issued and outstanding voting
The securities are being held by Mr. Goldhar for investment purposes.
Other than transactions with the REIT contemplated from time to time,
Mr. Goldhar has no present intention of acquiring any additional
Special Voting Units, units of the REIT or securities convertible or
exchangeable into securities of the REIT, other than as described
above. However, Mr. Goldhar reserves the right, depending on the
circumstances, including market conditions, to make further purchases,
or disposals, of Special Voting Units, units or securities convertible
or exchangeable into securities of the REIT in the future.
This news release is being issued as required by National Instrument
62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting
SOURCE: Mitchell Goldhar
For further information:
Further information (including a copy of the early warning report to be filed on SEDAR) can be obtained at www.sedar com under the REIT's company profile or by contacting Joseph Amato of SmartCentres at 905-760-6200.