Pure Multi-Family REIT LP Announces Closing of Previously Announced $25
Million Financing and Full Exercise of Over-Allotment Option
VANCOUVER, Oct. 18, 2012 /CNW/ - Pure Multi-Family REIT LP ("Pure Multi")
(TSXV: RUF.U) announced today the closing of its previously announced public
offering (the "Offering") of 4,860,000 class A units ("Units") of Pure Multi
and the closing of the over-allotment option in full of 729,000 Units (the
"Over-Allotment") on a bought deal basis, at a price of US$5.15 per Unit for
total gross proceeds of US$28,783,350.
The Offering was conducted through a syndicate of underwriters led by Dundee
Securities Ltd. and Canaccord Genuity Corp. and including National Bank
Financial Inc., Raymond James Ltd., Scotia Capital Inc., GMP Securities L.P.,
Macquarie Capital Markets Canada Ltd., Desjardins Securities Inc., HSBC
Securities (Canada) Inc. and Sora Group Wealth Advisors Inc.
The net proceeds from the Offering and the Over-Allotment will be used to fund
announced and prospective acquisitions and for general corporate purposes.
Pure Multi's Units are listed on the TSX Venture Exchange under the symbol
RUF.U. Pure Multi currently has 17,089,000 Units issued and outstanding.
About Pure Multi-Family REIT LP
Pure Multi is a limited partnership formed under the Limited Partnerships Act
(Ontario) to invest in quality multi-family real estate properties in major
markets in the United States. Pure Multi is focused exclusively on
investments in multi-family real estate properties in the United States and is
currently the only publicly traded vehicle in Canada which offers investors
exclusive exposure to U.S. multi-family real estate assets.
Additional information about Pure Multi-Family REIT LP is available at
www.puremultifamily.com and www.sedar.com.
This news release is intended for distribution in Canada only and is not
intended for distribution to United States newswire services or dissemination
in the United States. The securities being offered have not, nor will they be
registered under the United States Securities Act of 1933, as amended, and may
not be offered or sold within the United States or to, or for the account or
benefit of, U.S. persons absent U.S. registration or an applicable exemption
from the U.S. registration requirements. This release does not constitute an
offer for sale of securities in the United States.
Certain statements contained in this news release may constitute
forward-looking statements. Forward-looking statements are often, but not
always, identified by the use of words such as "anticipate", "plan", "expect",
"may", "will", "intend", "should", and similar expressions. These statements
involve known and unknown risks, uncertainties and other factors that may
cause actual results or events to differ materially from those anticipated in
such forward-looking statements. Forward looking statements in this news
release include that the net proceeds from the Offering and the Over-Allotment
will be used to fund announced and prospective acquisitions and for general
corporate purposes. The forward-looking statements contained in this news
release are based on certain key expectations and assumptions made by Pure
Multi, including: expectations and assumptions concerning receipt of required
regulatory approvals and the satisfaction of other conditions to the use of
proceeds from the Offering.
Although Pure Multi believes that the expectations and assumptions on which
the forward-looking statements are based are reasonable, undue reliance should
not be placed on the forward-looking statements because Pure Multi can give no
assurance that they will prove to be correct. Since forward-looking
statements address future events and conditions, by their very nature they
involve inherent risks and uncertainties. Actual results could differ
materially from those currently anticipated due to a number of factors and
risks. These include, but are not limited to competitive factors in the
industries in which Pure Multi operates, prevailing economic conditions, and
other factors, many of which are beyond the control of Pure Multi.
The forward-looking statements contained in this news release represent Pure
Multi's expectations as of the date hereof, and are subject to change after
such date. Pure Multi disclaims any intention or obligation to update or
revise any forward-looking statements whether as a result of new information,
future events or otherwise, except as required under applicable securities
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT
TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) HAS REVIEWED OR
ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR THE ACCURACY OF THIS RELEASE.
Andrew Greig, Director of Investor Relations
Pure Multi-Family REIT LP Suite 910, 925 West Georgia Street Vancouver, BC
V6C 3L2 Phone: (604) 681-5959 or (888) 681-5959
SOURCE: Pure Multi-Family REIT LP
To view this news release in HTML formatting, please use the following URL:
CO: Pure Multi-Family REIT LP
ST: British Columbia
NI: REL FIN NEWSTK
-0- Oct/18/2012 13:11 GMT
Press spacebar to pause and continue. Press esc to stop.