TORONTO, April 19, 2017 /CNW/ - Summit Industrial Income REIT ("Summit" or the "REIT") (TSX: SMU.UN) announced today that it has filed and obtained a receipt for a preliminary base shelf prospectus. The preliminary base shelf prospectus was filed with securities regulatory authorities in each of the provinces and territories of Canada on April 18, 2017 but has not yet become final for the purpose of the sale of securities.
Once a receipt for the final base shelf prospectus is obtained from the applicable securities regulators, the final base shelf prospectus will be valid for a 25-month period, during which time Summit may issue, from time-to-time, units, debt securities, subscription receipts, or any combination thereof, having an aggregate offering price of up to CDN$400 million.
The base shelf prospectus was filed to provide Summit with financial flexibility and efficient access to Canadian capital markets.
Summit Industrial Income REIT is an unincorporated open-end trust focused on growing and managing a portfolio of light industrial properties across Canada. Summit's units are listed on the TSX and trade under the symbol SMU.UN. For more information, please visit our web site at www.summitIIreit.com.
Caution Regarding Forward Looking Information
This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "project", "should", "believe", "plans", "intends", "goal" and similar expressions are intended to identify forward-looking information or statements. Forward-looking information may relate to future results, performance, achievements, events, prospects or opportunities for the REIT or the real estate industry, outlook and anticipated events or results. Some of the specific forward-looking statements contained herein include statements with respect to the following: the filing of the final base shelf prospectus and the REIT obtaining a receipt in respect thereof; and the purposes for which the REIT has filed the base shelf prospectus.
Forward-looking statements necessarily involve known and unknown risks and uncertainties, and there can be no assurance that actual results will be consistent with such forward-looking statements.
Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date hereof, and to not use such forward looking information for anything other than its intended purpose. Summit undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
SOURCE Summit Industrial Income REIT
For further information: Paul Dykeman, CEO at (902) 405-8813, [email protected]