VANCOUVER, Jan. 18 /CNW/ - Pure Industrial Real Estate Trust ("PIRET")
(TSXV: AAR.UN) is pleased to announce that it has completed the sale today of
76,263 trust units at a price of C$3.80 per trust unit pursuant to the
exercise in part of an over-allotment option by an underwriting syndicate
co-led by Dundee Securities Corporation and RBC Capital Markets, and including
Raymond James Ltd., BMO Nesbitt Burns Inc., Blackmont Capital Inc., Bieber
Securities Inc., Canaccord Capital Corp., MGI Securities Inc., and Sora Group
Wealth Advisors Inc.
The over-allotment option was granted by PIRET to the underwriters in
connection with PIRET's follow on offering which was completed on
December 20, 2007. Including the over-allotment, the offering totalled
2,226,263 trust units for aggregate gross proceeds to PIRET of C$ 8,459,799.
PIRET now has 7,526,263 trust units outstanding.
The net proceeds from the offering and the exercise of the over-allotment
option will be used by the Company primarily for property acquisitions and
general corporate purposes.
PIRET's Units are listed on the TSX Venture Exchange under the symbol
AAR.UN. For more information on PIRET, visit our website at www.piret.ca.
About Pure Industrial Real Estate Trust (PIRET)
PIRET is an unincorporated, open-ended investment trust established for
the purposes of acquiring, owning and operating a diversified portfolio of
income-producing industrial properties in both primary and secondary markets
across Canada. PIRET focuses exclusively on investing in industrial properties
and is the only publicly traded vehicle in Canada that offers investors
exclusive exposure to Canada's industrial asset class.
Additional information about PIRET is available at www.piret.ca or
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR THE ACCURACY OF THIS RELEASE.
For further information:
For further information: Darren Latoski, Acting Chief Executive Officer,
Andrew Greig, Director of Investor Relations, Pure Industrial Real Estate
Trust (PIRET), Suite 910, 925 West Georgia Street, Vancouver, BC, V6C 3L2,
Phone: (604) 681-5959, or (888) 681-5959, E-mail: email@example.com,