TSX-V: MOB.UN and MOB.WT
TORONTO, Jan. 5 /CNW/ - GT Canada Medical Properties Real Estate
Investment Trust (the "REIT") is pleased to announce that trading in its trust units and warrants
began on the TSX Venture Exchange (the "TSXV") on January 4, 2011.The trust units trade under the symbol "MOB.UN"
and the warrants trade under the symbol "MOB.WT".
The commencement of trading follows final acceptance by the TSXV of the
following transactions completed by the REIT on December 24, 2010:
a public offering of trust units and warrants for aggregate gross
proceeds of $25,550,000;
the acquisition of a portfolio of five medical office buildings,
including one substantially pre-leased property currently under
construction, for a purchase price of $39,950,000 (subject to
adjustment), which implies a cap rate of approximately 8.25%; and
the conversion of the REIT's corporate predecessor, GT Canada Medical
Properties Inc., into the REIT.
As Canada's only publicly traded issuer focused exclusively on medical
office buildings, GT Canada's objectives are to: (i) provide its
unitholders with stable and growing cash distributions from investments
focused on medical office buildings and related healthcare properties
in Canada, on a tax efficient basis; (ii) enhance the value of the
REIT's assets and maximize long-term unit value; and (iii) expand the
asset base of the REIT.
This news release contains "forward-looking statements" within the
meaning of applicable securities laws. Actual results and developments
may differ materially from those contemplated by these statements
depending on, among other things, the risk that REIT may not be able to
expand its asset base on favourable terms, or at all. The statements in
this news release are made as of the date of this release. The factors
identified above are not intended to represent a complete list of the
factors that could affect REIT. Additional factors are noted under
"Risk Factors" in the REIT's prospectus dated December 17, 2010, a copy
of which may be obtained on the SEDAR website at www.sedar.com.
Neither the TSX Venture Exchange Inc. nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) has approved or disapproved the contents of this press
SOURCE GT Canada Medical Properties Real Estate Investment Trust
For further information:
Andrew Shapack, Chief Executive Officer
GT Canada Medical Properties REIT