/NOT FOR DISTRIBUTION TO THE UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES/
HALIFAX, Dec. 14, 2012 /CNW/ - Killam Properties Inc. (TSX: KMP)
("Killam") is pleased to announce that it has closed the sale of an
additional 375,000 common shares of Killam (the "Common Shares") to the
public at a price of $12.00 per share for gross proceeds of $4,500,000,
pursuant to the over-allotment option exercised by the underwriters in
connection with its public offering of Common Shares which closed on
December 10, 2012 (the "Over-Allotment Option"). The exercise of the
Over-Allotment Option brings the total number of Common Shares sold by
Killam in this public offering to 2,875,000 and brings the total gross
proceeds of the public offering to $34,500,000.
The syndicate of underwriters for the offering of Common Shares was led
by RBC Capital Markets and included BMO Nesbitt Burns Inc., CIBC World
Markets Inc., Scotia Capital Inc., TD Securities Inc., Canaccord
Genuity Corp., Dundee Securities Ltd., Macquarie Capital Markets Canada
Ltd., GMP Securities L.P., Raymond James Ltd. and Brookfield Financial
Killam intends to use the proceeds from the Over-Allotment Option to
repay certain indebtedness, including the redemption of its $10 million
of unsecured subordinated debentures which bear interest at a weighted
average contractual rate of 6.16% and mature on January 4, 2013, and
the balance to fund future property acquisitions and developments, and
for general corporate purposes.
The Common Shares being offered have not been and will not be registered
under the United States Securities Act of 1933, as amended, and state
securities laws. Accordingly, the Common Shares may not be offered or
sold in the United States absent registration or an exemption from the
registration requirements of that Act.
Killam Properties Inc., based in Halifax, Nova Scotia, is one of
Canada's largest residential landlords, owning, operating and
developing multi-family apartments and manufactured home communities.
Note: The Toronto Stock Exchange has neither approved nor disapproved of
the information contained herein. Certain statements in this report may
constitute forward-looking statements relating to the offering, our
operations and the environment in which we operate, which are based on
our expectations, estimates, forecast and projections, which we believe
are reasonable as of the current date. Such forward-looking statements
involve risks, uncertainties and other factors which may cause actual
results, performance or achievements of Killam to be materially
different from any future results, performance or achievements
expressed or implied by such forward-looking statements. For more
exhaustive information on these risks and uncertainties, you should
refer to our most recently filed annual information form which is
available at www.sedar.com. Readers, therefore, should not place undue reliance on any such
forward-looking statements. Further, a forward-looking statement speaks
only as of the date on which such statement is made and should not be
relied upon as of any other date. Other than as required by law, Killam
does not undertake to update any of such forward-looking statements.
SOURCE: KILLAM PROPERTIES INC.
For further information:
Killam Properties Inc.
President & CEO
Vice President, Investor Relations and Corporate Planning