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BTB Real Estate Investment Trust Announces Public Offering of $17.5 Million of Trust Units

Tuesday, 9 Jul 2013 04:38pm EDT 

BTB Real Estate Investment Trust announces that it has reached an agreement with a syndicate of underwriters led by National Bank Financial Inc. and including Dundee Securities Ltd., Canaccord Genuity Corp., GMP Securities L.P., Laurentian Bank Securities Inc., TD Securities Inc., Raymond James Ltd. and Desjardins Securities Inc. to issue to the public, subject to regulatory approval, on a bought deal basis 3,764,000 trust units (the Units) at a price of $4.65 per Unit representing gross proceeds of approximately $17.5 million. The REIT has granted the underwriters an over-allotment option exercisable in whole or in part at any time up to 30 days after closing, to purchase up to an additional 564,600 Units at the same offering price. The net proceeds from this offering (after deducting the Underwriters' fee and estimated offering expenses) will be used to repay amounts outstanding on its acquisition line of credit, for future property acquisitions and for general trust purposes. The REIT will, by July 15, 2013, file with the securities commissions and other similar regulatory authorities in each of the provinces of Canada a preliminary short form prospectus relating to the issuance of the Units. Closing of the offering is expected to take place on or about July 29, 2013. 

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24 Dec 2014