C2C Industrial Properties Inc Announces Completion Of $22.0 Million Equity Offering

C2C Industrial Properties Inc announced that it had successfully completed an offering of 4,835,200 common shares of the Company at a price of $4.55 per common share on a private placement basis for gross proceeds of $22,000,160 (the "Offering"). The net proceeds of the Offering will be primarily used to reduce certain short term indebtedness incurred with the previously completed portfolio acquisition of seven multi-tenant light industrial properties and to fund future acquisitions. The offering was co-led by GMP Securities L.P. and Desjardins Securities Inc. and the syndicate also included Macquarie Capital Markets Canada Ltd. The common shares issued under the Offering are subject to a four-month hold period expiring December 1, 2012. Certain insiders of the Company purchased an aggregate of 1,483,500 common shares under the Offering, representing 30.7% of the total number of common shares issued under the Offering. Following the completion of the Offering, these parties will collectively have beneficial ownership of, or control or direction over, common shares of the Company representing 25.9% of the total number of outstanding shares of the Company post-Offering. The participation of these insiders in the offering constitutes a related party transaction under Canadian Multilateral Instrument 61-101 (MI 61-101), but is otherwise exempt from the formal valuation and minority approval requirements of MI 61-101.