TORONTO, Nov. 29, 2013 /CNW/ - Edgefront Realty Corp. ("Edgefront") (TSXV: ED) is pleased to provide an update on its agreement, previously announced on November 1, 2013, to purchase a portfolio of 10 industrial properties located in Alberta, Saskatchewan, British Columbia and the Northwest Territories which will be a Reverse Takeover (as that term is defined in TSXV Policy 5.2). Edgefront has submitted documentation regarding the transaction to the TSX Venture Exchange ("TSXV") seeking conditional approval, and Edgefront expects to mail its information circular on or around December 5, 2013.
Edgefront is a growth oriented real estate company focused on increasing shareholder value through the acquisition, ownership and management of industrial properties located in primary and secondary markets in North America, with an initial focus on Western Canada. It is the intention of Edgefront to expand its business of purchasing, owning and operating real estate assets and to convert into a real estate investment trust having an external asset management structure, subject to receipt of all necessary approvals, including that of the TSXV.
Cautions Regarding Future Plans and Forward Looking Information
Completion of the proposed transaction is subject to a number of conditions, including TSXV acceptance and shareholder approval. The transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the transaction will be completed as proposed or at all.
Investors are cautioned that, except as disclosed in the management information circular to be prepared in connection with the transaction, any information released or received with respect to the proposed transaction may not be accurate or complete and should not be relied upon. Trading in the securities of Edgefront should be considered highly speculative.
The TSXV has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release. Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
This press release contains forward-looking information within the meaning of Canadian securities laws. Such information includes, without limitation, information regarding the completion of the proposed transaction and the business strategies of Edgefront. Although Edgefront believes that such information is reasonable, it can give no assurance that such expectations will prove to be correct.
SOURCE: Edgefront Realty Corp.
For further information:
please contact Kelly C. Hanczyk at (416) 906-2379.