/NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES WIRE
WINNIPEG, June 16, 2014 /CNW/ - Lanesborough Real Estate Investment
Trust ("LREIT") (TSX: LRT.UN) announced today that the maturity date of
its issued and outstanding 9.50% Series G redeemable subordinated
secured debentures due February 28, 2015 (the "Debentures") has been
extended from February 28, 2015 to June 30, 2018 (the "Extension"). The
Extension was approved by the holders of the Debentures at a special
meeting of such holders held on June 16, 2014. The Extension is
effective June 17, 2014.
LREIT will enter into a supplemental trust indenture with the trustee
for the Debentures, CIBC Mellon Trust Company, that will give effect to
these amendments. This supplemental trust indenture will be filed on
SEDAR by LREIT.
There are $24,873,800 principal amount of Debentures issued and
outstanding. The Debentures are listed on the Toronto Stock Exchange
under the trading symbol "LRT.DB.G".
Laurentian Bank Securities Inc. acted as solicitation agent of LREIT for
the Extension of the Debentures.
LREIT is a real estate investment trust, which is listed on the Toronto
Stock Exchange under the symbols LRT.UN (Trust Units), LRT.DB.G (Series
G Debentures), LRT.NT.A (Second Mortgage Bonds due December 24, 2015),
LRT.WT (Warrants expiring March 9, 2015) and LRT.WT.A (Warrants
expiring December 23, 2015). For further information on LREIT, please
visit our website at www.lreit.com.
The TSX has not reviewed or approved the contents of this press release
and does not accept responsibility for the adequacy or accuracy of this
This press release contains certain statements regarding the proposed
transaction described herein that could be considered as
forward-looking information. The forward-looking information is subject
to certain risks and uncertainties, which could result in actual
results differing materially from the forward-looking statements. There
can be no certainty that the transaction will be completed within the
timeline set forth herein or at all.
SOURCE: Lanesborough Real Estate Investment Trust
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