WINNIPEG, Jan. 19 /CNW/ - Temple Real Estate Investment Trust ("Temple REIT") (TSX-V: TR.UN) announced today that it has filed a preliminary
short-form prospectus, dated January 19, 2011 (the "Preliminary Prospectus") relating to the public offering (the "Offering") of a minimum of 2,000,000 and up to a maximum of 4,000,000 trust
units (the "Units"). 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. (collectively the "Agents").
The price of the Units will be determined by Temple REIT and the Agents
in the context of the market.
Temple REIT has applied to the TSX Venture Exchange (the "Exchange") to list the additional 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: email@example.com.