VANCOUVER, May 16, 2018 /CNW/ - Pure Multi-Family REIT LP ("Pure Multi-Family" or the "REIT") (TSXV: RUF.U, RUF.UN, RUF.DB.U; OTCQX: PMULF) announced today K2 Principal Fund L.P. ("K2") has informed the REIT that K2 will not put forward any director nominees for election at the upcoming annual and special meeting of unitholders of the REIT ("Unitholders"), which is currently scheduled for May 24, 2018. In order to prevent any further costs to Unitholders and to eliminate any potential distraction to the previously announced formal process to explore strategic options, including the potential sale of Pure Multi-Family, K2 will support the seven director nominees identified in the REIT's management information circular dated April 9, 2018.
Both the board of directors of Pure Multi-Family and K2 are focused on maximizing value for Unitholders.
About Pure Multi-Family REIT LP
Pure Multi-Family is a Canadian based, publically traded vehicle which offers investors exclusive exposure to attractive, institutional quality U.S. multi-family real estate assets.
Certain statements in this news release may constitute "forward-looking information" within the meaning of applicable securities laws. Forward-looking information involves known and unknown risks, uncertainties and other factors, and it may cause actual results, performance or achievements or industry results, to be materially different from any future results, performance or achievements or industry results expressed or implied by such forward-looking information. Forward-looking information generally can be identified by the use of terms and phrases such as "anticipate", "believe", "could", "estimate", "expect", "feel", "intend", "may", "plan", "predict", "project", "subject to", "will", "would", and similar terms and phrases, including references to assumptions. Some of the specific forward-looking information referred to in this news release includes, but is not limited to, a statement that the REIT's annual and special meeting is currently scheduled for May 24, 2018.
The forward-looking information contained in this news release are based on certain key expectations and assumptions made by Pure Multi-Family, including: the existence of highly credible parties willing and capable of participating in the sale process; and reasonably stable economies in the markets in which Pure Multi-Family operates.
Although Pure Multi-Family believes that the expectations and assumptions on which the forward-looking information are based are reasonable, undue reliance should not be placed on the forward-looking information because Pure Multi-Family can give no assurance that they will prove to be correct. Since forward-looking information addresses future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, without limitation, the risk that the strategic review process may not result in a transaction and those factors that can be found under "Risk Factors" in Pure Multi-Family's Annual Information Form dated March 21, 2018 and under "Risks and Uncertainties" in Pure Multi-Family's Management's Discussion and Analysis dated March 7, 2018, both of which are available on SEDAR at sedar.com.
The forward-looking information contained in this news release represent Pure Multi-Family's expectations as of the date hereof, and are subject to change after such date. Pure Multi-Family disclaims any intention or obligation to update or revise any forward-looking information except as required by law.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (as that term is defined in policies of the TSX Venture Exchange) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR THE ACCURACY OF THIS RELEASE.
SOURCE Pure Multi-Family REIT LP
For further information: please contact: Laurel Hill Advisory Group, North America Toll Free: 1-877-452-7184, Collect Calls Outside North America: 1-416-304-0211, Email: firstname.lastname@example.org; Andrew Greig, Pure Multi-Family REIT LP, Vice President, Investor Relations, Direct: 604-449-5286, Email: email@example.com