/NOT FOR DISSEMINATION IN THE UNITED STATES./
RICHMOND, BC, Dec. 19, 2012 /CNW/ - Huntingdon Capital Corp.
("Huntingdon") (TSX: HNT, HNT.DB and HNT.WT) announced today that FAM
Real Estate Investment Trust (the "REIT") has filed a final prospectus
for its initial public offering (the "Offering") of 5,880,000 units (the "Offered Units") with the securities commissions of each of the
provinces and territories in Canada. Each Offered Unit consists of one
trust unit in the capital of the REIT (a "Trust Unit") and one quarter
of one Trust Unit purchase warrant of the REIT (each whole warrant
being a "Warrant") at a price of $10.00 per Offered Unit. Each Warrant
shall entitle the holder thereof to acquire one Trust Unit (each a
"Warrant Unit") at an exercise price of $10.50 per Warrant Unit at any
time following closing of the Offering and prior to 5:00 p.m. on
December 28, 2015.
The REIT will use approximately $48.5 million of the proceeds of the
Offering, together with approximately $6.2 million to be drawn under
the REIT's revolving credit facility, to indirectly acquire a portfolio
of 27 properties (the "Properties") from Huntingdon. Huntingdon will
retain an approximate 30% interest in the REIT (or a 27% interest in
the REIT if the over-allotment option granted to the underwriters is
exercised in full) through the ownership of Class B limited partnership
units of a subsidiary of the REIT, which are economically equivalent
to, and exchangeable for, Trust Units, and will hold a vendor take-back
note to be issued by a subsidiary of the REIT in an amount of
approximately $9.2 million.
Huntingdon will provide strategic, asset management, administrative,
property management, leasing, construction management and
administrative services necessary to manage the day-to-day operations
of the REIT and its assets pursuant to the terms of a management
agreement to be entered into on Closing.
The Offering is expected to close on December 28, 2012. Copies of the
final prospectus containing full details of the Offering and the REIT
will be available under the REIT's profile on SEDAR at www.sedar.com.
The securities of the REIT have not been, nor will they be, registered
under the United States Securities Act of 1933, as amended, and may not
be offered or sold in the United States without registration or an
applicable exemption from the registration requirements of that Act.
This news release does not constitute an offer for sale of these
securities in the United States of America.
This press release contains forward-looking statements which reflect
Huntingdon's current expectations regarding future events. The
forward-looking statements involve risks and uncertainties. Actual
results could differ materially from those projected herein. Huntingdon
disclaims any obligation to update these forward-looking statements
other than as required by applicable securities laws.
Huntingdon is a real estate operating company listed on the TSX (Common
Shares: HNT; Debentures: HNT.DB; Warrants: HNT.WT). Huntingdon owns and
manages a portfolio of industrial, office, retail and aviation-related
properties throughout Canada that have a total gross leasable area of
4.5 million square feet.
SOURCE: Huntingdon Capital Corp.
For further information:
Zachary R. George
Chief Executive Officer
Huntingdon Capital Corp.