/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES/
VANCOUVER, Sept. 12, 2012 /CNW/ - Pure Industrial Real Estate Trust
("PIRET") (TSXV: AAR.UN) today announced the closing of its previously
announced public offering (the "Offering") of 7,015,000 trust units
("Units") (inclusive of 915,000 Units issued pursuant to the exercise
in full of the over-allotment option), on a bought deal basis, at a
price of $4.95 per Unit for total gross proceeds of $34,724,250. The
Offering was conducted through a syndicate of underwriters led by
Canaccord Genuity Corp. and Dundee Securities Ltd., as co-lead
underwriters, and including RBC Dominion Securities Inc., National Bank
Financial Inc., CIBC World Markets Inc., Raymond James Ltd., Scotia
Capital Inc., HSBC Securities (Canada) Inc., GMP Securities L.P.,
Macquarie Capital Markets Canada Ltd., Sora Group Wealth Advisors Inc.,
and Union Securities Ltd. (the "Underwriters").
PIRET intends to use the net proceeds from the Offering to fund
acquisitions and for general working capital purposes.
PIRET's units are listed on the TSX Venture Exchange under the symbol
AAR.UN. PIRET now has 73,403,154 Units issued and outstanding.
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 primary 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 www.sedar.com.
Certain statements contained in this press release may constitute
forward-looking statements. Forward-looking statements are often, but
not always, identified by the use of words such as "anticipate",
"plan", "expect", "may", "will", "intend", "should", and similar
expressions. These statements involve known and unknown risks,
uncertainties and other factors that may cause actual results or events
to differ materially from those anticipated in such forward-looking
statements. Forward-looking statements in this news release include
that PIRET intends to use the net proceeds from the Offering and the
over-allotment option to fund acquisitions and for general working
capital purposes. The forward-looking statements contained in this news
release are based on certain key expectations and assumptions made by
PIRET, including: expectations and assumptions concerning receipt of
required regulatory approvals and the satisfaction of other conditions
to the completion of the property acquistions.
Although PIRET believes that the expectations and assumptions on which
the forward-looking statements are based are reasonable, undue reliance
should not be placed on the forward-looking statements because PIRET
can give no assurance that they will prove to be correct. Since
forward-looking statements address future events and conditions, by
their very nature they involve inherent risks and uncertainties. Actual
results could differ materially from those currently anticipated due to
a number of factors and risks. These include, but are not limited to,
the failure to obtain necessary regulatory approvals or satisfy the
conditions to closing the property acquisitions, competitive factors in
the industries in which PIRET operates, prevailing economic conditions,
and other factors, many of which are beyond the control of the PIRET.
The forward-looking statements contained in this press release represent
PIRET's expectations as of the date hereof, and are subject to change
after such date. PIRET disclaims any intention or obligation to update
or revise any forward-looking statements whether as a result of new
information, future events or otherwise, except as required under
applicable securities regulations.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER
(as that term is defined in the policies of the TSX Venture Exchange)
HAS REVIEWED OR ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR THE ACCURACY
OF THIS RELEASE.
SOURCE: Pure Industrial Real Estate Trust (PIRET)
For further information:
Director of Investor Relations
Pure Industrial Real Estate Trust
Suite 910, 925 West Georgia Street
Vancouver, BC V6C 3L2
Phone: (604) 681-5959 or (888) 681-5959
TSX Venture Exchange - AAR.UN