/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES OF AMERICA. /
TORONTO, July 2, 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 final 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 of record on July 10, 2014 will receive one Warrant for each Class A unit of the Fund (a "Class A Unit").
Two whole Warrants will entitle the Unitholder to purchase a Class A Unit upon payment of the subscription price of $13.53 which is 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. Warrants not exercised by 5:00 p.m. (Toronto time) on November 26, 2014 will be void and have no value.
The Warrants distributed under this prospectus have been conditionally approved for listing on the Toronto Stock Exchange under the symbol TGF.WT. Warrants will not be eligible to receive distributions provided, however, that if Class A Units are issued on or before an applicable record date, Class A Units received upon exercise of the Warrants will be eligible to receive distributions from the Fund.
Warrants will be distributed to client accounts by brokers after the record date. The Fund will pay an exercise fee of $0.20 per Class A Unit at the time the Warrant is exercised, payable to the investment advisor of the CDS participant whose client is exercising the Warrant, up to a maximum amount of $2,500 per beneficial subscriber.
The Warrants are not qualified for distribution in the United States of America. A copy of the final 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
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