TORONTO, Jan. 14 /CNW/ - InStorage Real Estate Investment Trust
("InStorage REIT") announced today that, effective immediately, unitholders
may enroll in its new Distribution Reinvestment Plan ("DRIP" or "Plan").
Eligible investors enrolled in the DRIP will have all or a portion (as
elected) of their monthly cash distributions automatically reinvested into
additional units of InStorage REIT.
"The Plan offers our unitholders the opportunity to steadily increase
their ownership in InStorage REIT without incurring any commissions or other
transaction costs," commented James Tadeson, CEO. "As an additional benefit of
the DRIP, participants will receive bonus units equal to 4% of their monthly
cash distributions reinvested through the Plan."
Units purchased through the DRIP will be issued from InStorage REIT's
treasury and will be issued at the volume weighted average trading price of
the units for the ten trading days immediately preceding the distribution
Registered unitholders may enroll in the DRIP by completing and
submitting an Enrollment Form with Computershare Trust Company of Canada at
the address set forth in the Plan. Beneficial unitholders are encouraged to
contact their broker or other intermediary for enrollment information. The
DRIP is subject to certain limitations and restrictions, including the
requirement that unitholders must be residents of Canada to be eligible to
participate in the Plan.
For additional information and complete details of the DRIP, unitholders
are encouraged to visit InStorage REIT's website (www.instoragereit.ca) or
contact their investment advisor.
InStorage Real Estate Investment Trust
InStorage REIT is an unincorporated open-ended real estate investment
trust that invests primarily in self-storage properties throughout Canada.
InStorage REIT is the largest owner operator of self-storage facilities in
Canada and is the country's leading self-storage industry consolidator, with a
current portfolio of 52 self-storage properties located in Alberta,
Saskatchewan, Ontario and Quebec.
Additional information concerning InStorage REIT may be obtained on its
website, www.instoragereit.ca, and on the SEDAR website at www.sedar.com,
under InStorage REIT's profile.
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.
For further information:
For further information: InStorage Real Estate Investment Trust, T.
James Tadeson, Chief Executive Officer, Tel: (416) 867-9705; Alay Shah, Chief
Financial Officer, Tel: (416) 867-9740