WINNIPEG, Feb. 4 /CNW/ - Temple Real Estate Investment Trust ("Temple REIT") (TSX-V: TR.UN) announced today that it has filed a final short-form
prospectus, dated February 4, 2011 relating to the public offering (the
"Offering") of a minimum of 2,000,000 and up to a maximum of 5,000,000 trust
units (the "Units") at a price of $4.00 per Unit. The maximum Offering size was
increased from 4,000,000 Units to 5,000,000 Units due to strong
investor demand. Closing of the Offering is anticipated to take place
on or about February 11, 2011.
The Offering is being placed on a best efforts basis by a syndicate led
by Wellington West Capital Inc., and including HSBC Securities (Canada)
Inc, Macquarie Capital Markets Canada Ltd., Raymond James Ltd.,
Desjardins Securities Inc., Mackie Research Capital Corporation and
Stonecap Securities Inc.
Temple REIT has received the conditional approval of the TSX Venture
Exchange (the "Exchange") for the listing of the Units sold pursuant to the Offering. Listing
is subject to Temple REIT satisfying all requirements of the Exchange.
Temple REIT intends to use the net proceeds of the offering to repay
second mortgage debt, to fund the renovation and expansion costs
leading up to the re-branding of the Capri Hotel to a Sheraton Hotel &
Conference Centre and for general purposes, as more particularly
disclosed in the Preliminary Prospectus.
Temple REIT is a real estate investment trust, which is listed on the
TSX Venture Exchange under the symbols TR.UN (trust units), TR.DB.A,
TR.DB.B and TR.DB.S (convertible debentures). The objective of TREIT
is to provide Unitholders with stable cash distributions from
investment in a geographically diversified Western Canadian portfolio
of hotel properties and related assets. For further information on
TREIT, please visit our website at www.treit.ca.
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 the contents of
this News Release.
SOURCE Temple REIT
For further information:
Arni Thorsteinson, Chief Executive Officer or Gino Romagnoli, Investor Relations
Tel: (204) 475-9090, Fax: (204) 452-5505, Email: firstname.lastname@example.org.