TORONTO, June 11, 2014 /CNW/ - Timbercreek Asset Management Ltd., the manager of Timbercreek Global Real Estate Fund (TSX: TGF.UN) (the "Fund") is pleased to announce that the Fund has filed a preliminary prospectus for an offering of warrants of the Fund (the "Warrants") to holders of Class A units of the Fund (the "Unitholders") with the securities regulators in all of the provinces of Canada. Each Unitholder will receive one Warrant for each Class A unit of the Fund (a "Class A Unit") held on a record date that will be determined prior to the filing of the final prospectus. No Warrants will be issued to holders of outstanding Class B units of the Fund.
Two whole Warrants will entitle the Unitholder to purchase a Class A Unit upon payment of the subscription price, which will be determined as the lesser of: (i) the sum of the most recently calculated net asset value per Class A Unit prior to the date of the preliminary short form prospectus plus the estimated per Class A Unit fees and expenses of the offering of the Fund, and (ii) the sum of the most recently calculated net asset value per Class A Unit prior to the date of filing the final short form prospectus plus the estimated per Class A Unit fees and expenses of the offering of the Fund.
The Fund has applied to list the Warrants and the Class A Units issuable on the exercise thereof on the Toronto Stock Exchange.
The Warrants are not qualified for distribution in the United States of America. A copy of the preliminary prospectus has been filed on SEDAR at www.sedar.com under the Fund's profile.
This press release does not constitute an offer to sell or the solicitation of an offer to buy securities nor will there be any sale of such securities in any state in which such offer, solicitation or sale would be unlawful.
SOURCE: Timbercreek Global Real Estate Fund
For further information:
Timbercreek Asset Management Ltd.