WINNIPEG and RICHMOND, BC, Nov. 5 /CNW/ - Huntingdon Real Estate Investment Trust ("HREIT") (TSX: HNT.UN) and IAT Air Cargo Facilities Income Fund ("IAT") (TSX: ACF.UN) announced the commencement of the mailing of a joint information circular dated November 5, 2009 (the "Information Circular") for the meetings of their respective unitholders expected to be held on November 26, 2009 for the purpose of considering resolutions approving, among other things, the proposed combination of HREIT and IAT and related transactions (the "Combination"). The details of the Combination are set forth in the Information Circular.
The Information Circular has been filed with applicable Canadian securities regulatory authorities today and is expected to be available today on the websites of HREIT and IAT at www.hreit.ca and www.iat-yvr.com, respectively, and on SEDAR at www.sedar.com by Friday, November 6, 2009.
The Toronto Stock Exchange (the "TSX") has conditionally approved the Combination and the listing of the additional HREIT units proposed to be issued pursuant to the Combination. Listing is subject to HREIT satisfying the requirements of the TSX.
HREIT is a real estate investment trust, which is listed on the TSX under the symbols HNT.UN (Trust Units) and HNT.DB.C (Series C Convertible Debentures). HREIT owns 68 income producing office, industrial, retail and standalone parking lot properties that have a total gross leaseable owned area of 4.7 million square feet; two land parcels held for development and other development and expansion opportunities within the existing portfolio. The properties are located in Manitoba, Ontario, Saskatchewan, Alberta, British Columbia and Northwest Territories. HREIT also owns CRESI Inc., a property management business. More information about HREIT can be found on its website at www.hreit.ca.
IAT is an unincorporated, open-ended mutual fund trust under the laws of British Columbia, which is listed on the TSX under the symbol ACF.UN. IAT owns all of the shares of International Aviation Terminals Inc. ("IAT Inc.") and IAT Management Limited Partnership ("IAT Management LP"). IAT, IAT Inc. and IAT Management LP, specialize in the ownership, construction, management and marketing of aviation-related facilities. IAT currently owns, leases and manages approximately 1.1 million square feet of air cargo and aviation related facilities, on ground-leased land at five of Canada's leading international airports. Approximately 65% of IAT's holdings are located at Vancouver International Airport, Canada's second largest airport, with the balance of the facilities located in Calgary, Edmonton, Saskatoon and Winnipeg. More information about IAT can be found on its website at www.iat-yvr.com.
This news release contains certain forward-looking statements relating to the expected timing of the mailing and availability of the Information Circular and the meeting of unitholders of HREIT and IAT. These statements, which can be identified by the use of the word "expected", involve various risks and uncertainties. There can be no assurance that the Information Circular will be mailed or available as contemplated. These forward-looking statements represent expectations of HREIT and IAT as of the date hereof, and are subject to change after such date. HREIT and IAT disclaim 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 laws.
This news release shall not constitute an offer to sell, or the solicitation of an offer to buy, any securities in any jurisdiction. The issuance of this press release is not an admission that any entity named in this press release owns or controls any units of HREIT or IAT or is a joint actor with any other entity.
The Toronto Stock Exchange has not reviewed or approved the contents of this press release and does not accept responsibility for the adequacy or accuracy of this press release.
SOURCE HUNTINGDON REAL ESTATE INVESTMENT TRUST
For further information: For further information: IAT CONTACT: Zachary R. George, President and Chief Executive Officer, Tel: (604) 249-5119, Fax: (604) 249-5101, Email firstname.lastname@example.org; HREIT CONTACT: Gary Goodman, Trustee and Chairman of Special Committee, Tel: (416) 929-0108, Fax: (416) 646-2673, Email: email@example.com